Profit slump knocks Royal & Sun shares
Friday 07 May 1999
The shares fell more than 5 per cent to 520p.
Bob Mendelsohn, chief executive, said nevertheless that with motor insurance rates firming by as much as 15 per cent in the UK and signs of price increases starting to stick in some commercial insurance areas, he was sanguine about a return to profits growth next year.
"I am cautiously optimistic that the first quarter will be the worst quarter of this year," he said.
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