Johnson Fry sounds warning

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The Independent Online
Johnson Fry sounds warning

Johnson Fry Holdings, the financial services group, warned yesterday that its results for the year to 31 December were likely to fall significantly below market expectations and will result in a substantial loss before exceptional items for the year. The shares plunged by 31.5p to 85p. The loss will result mainly from poor sales and margins, particularly in the second half of the year, from the financial products division, which has now been closed, as well as the write-off of pounds 800,000 of capitalised expenditure on software development, the company said. It added that barring unforeseen circumstances, it would pay an unchanged final dividend of 2p per share.

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