News blog


  • BY: Andrew Hore |
  • POSTED: 01/10/2008 |

Engineer Widney says that it will make a small loss in the year to September 2008.

This is much worse than expected. FinnCap’s full year profit forecast was downgraded from £1m to £400,000 when Widney published its interim figures in May.

Customers are not ordering at the same levels in the past and some introduce extended summer shut downs of their factories. Demand is not picking up as expected and the order book hardly stretches past the end of 2009. Management is trying to reduce its cost base.

Prior to the trading statement Widney shares had risen 0.5p to 10.5p each. This soon changed and the shares fell back to 8.25p, valuing the company at £2.13m. Net debt was £2.79m at the end of March 2008.

© 2023 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at Subscribe to AIM Micro RSS Feeds