Profit warning hits Metrotect
Tuesday 14 February 1995
At the same time the company announced the resignation of Brian Thomas as executive chairman. Mr Thomas, 53, will be succeeded by John Philips, currently business development director of the group and previously managing director of Vernons Pools.
In a statement to the Stock Exchange the company said second-half profits would make only a minor contribution to full-year results.
At the time of its interim results the company had said that second-half profits would match the £800,000 pre-tax profits in the first half. The company made £2.3m in the year to the end of March 1994. The statement said: "During previous years the second half trading period has traditionally been strong and indeed currently, invitations to tender and the value of existing tenders in the market awaiting contractors decisions to proceed is high. Nevertheless the award of firm contracts on certain expected projects has been delayed and this had led to a lull in current levels of activity."
The statement added that the amount of a final dividend payment would be reviewed in light of actual results for the year to March 31 1995.
Budgeting and management accounting procedures are to be made more formal. Currently the company prepares budgets on a quarterly basis. This is to become monthly and weekly.
Guy Thomas, the company's finance director, said Mr Thomas's departure "was not entirely linked to today's announcement. The board has been strengthened and this seemed a good time for a change anyway."
Swedish stars ask fans for £195 pledges on crowd-funding website
techLuke Blackall reports on precision engineered prams and babygros that monitor your child 24-7
Nelson Mandela memorial: ‘Bogus’ interpreter made mockery of Barack Obama’s tribute
The ten coldest places on Earth
Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
Krokodil in Mexico? Teenager hospitalised after 'injecting drug into her genitals'
Nelson Mandela memorial: Cheers, jeers and a masterclass from Barack Obama that stole the show
- 1 Nelson Mandela memorial: ‘Bogus’ interpreter made mockery of Barack Obama’s tribute
- 2 It’s shameful that our universities have accepted gender segregation under pressure from the most oppressive religious fanatics
- 3 Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
- 4 Exeter to Edinburgh and back in a day: How one fresher's lost bet left him facing a 900-mile round trip
- 5 Selfie at funeral: Cameron squeezes in on Obama snap at Mandela memorial
- < Previous
- Next >
iJobs Money & Business
£60000 - £80000 per annum + benefits + bonus: Harrington Starr: Product Specia...
£50000 - £60000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£23500 per annum: Harrington Starr: Graduate Software Support Analyst (Compute...
£25000 per annum: Harrington Starr: IT Infrastructure Engineer (Desktop, Linux...