Lower profits warning from Coal Investments
Thursday 28 September 1995
The group is currently spending heavily on equipment to get its mines, many of which have been lying idle for years, up and running.
Speaking at the annual general meeting yesterday Mr Edwards said the group had made major progress with the redevelopment of its mines but that some of its developments had been delayed.
Analysts immediately downgraded their profits forecasts for the year. Frank Watts at stockbrokers Charles Stanley shaved his full-year forecast from around pounds 10m to between pounds 2-4m - but maintained his pounds 25m forecast for the following year.
Shares in Coal Investments were marked down 10p to 88p on the news.
Sources close to the group said the decision to make a statement yesterday was taken to try to quieten market rumours about its progress.
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 Are you turning into your dad? The top ten signs you've embraced dad-ism revealed as survey says 38 is age men turn into their father
- 2 Overheard in Waitrose: documenting the chatter in 'Britain's poshest supermarket'
- 3 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Grace Dent on TV: Game of Thrones has jumped the shark
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...