Jarvis Porter to close plants in pounds 7.5m shake-up
Tuesday 23 February 1999
It will include the closure of several operations in the UK and Europe with the loss of 320 jobs, about 20 per cent of the labour force.
No details of the closures or redundancies were revealed yesterday while workers in the plants affected were being told the news, but operations in Leeds, Glasgow, Nottingham and Leicester could be affected.
The company also issued a profit warning, blaming poor trading conditions especially in the drinks and beverages division which prints labels for up-market drinks bottles.
Sales have been badly affected by the economic downturn in Asia, destocking in the drinks trade as a result of the merger of Grand Met and Diageo and, until recently, the strength of sterling.
Pre-tax profits for the year which ends next week will be around pounds 5m before exceptional costs.
But it is not yet clear how much of the costs of the restructuring programme will be taken in the current year.
The shares, which had staged a slight recovery in recent weeks after falling 60 per cent between March and December last year, fell 10p to 93.5p yesterday.
educationTo mark International Women's Day, Sarah Brown on how charities have brought proper joined-up thinking to the delivery of education
Apple's Tim Cook: Business isn’t just about making profit
Thousands of young people forced to go without food after benefits wrongly stopped under 'draconian' new sanctions regime
Ukraine crisis: New navy chief 'defects' and surrenders Crimean HQ as Putin claims ultranationalists forced intervention
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
- 1 NHS boss apologises for tweeting Hitler video mocking Government health database scheme
- 2 Sir Patrick Stewart patches into David Cameron and Barack Obama's Ukraine talks with packet of wet wipes
- 3 Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
- 4 Man stabbed with Legend of Zelda Master Sword in serious condition
- 5 First clip of Outkast's Andre 3000 in Jimi Hendrix biopic All Is By My Side emerges
iJobs Money & Business
£1200 per month: Inspiring Interns: Our client is one of Europes leading mobi...
£18000 - £19000 per annum: Inspiring Interns: Our client is the UKs leading i...
£30000 - £45000 per annum: Inspiring Interns: A (non-bank) fast-growing intern...
£40000 - £80000 per annum + Very Compeititve Salary: Austen Lloyd: Corporate F...