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.
- 2 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Driving while dehydrated can be just as dangerous as drink driving, study suggests
- 5 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...