News blog

Worthington Nicholls

  • BY: Andrew Hore |
  • POSTED: 17/08/2007 |

Worthington Nicholls used to be a darling of Aim but its profit warning appears to have lost the air conditioning installer its remaining fans. 

Even the more negative analysts hadn’t predicted that Worthington would not do any better than break even this year. Even the pessimists thought that profits would exceed £4m. It is therefore not surprising that the shares lost three-fifths of their value. At 19.5p, they are less than half their 50p placing price in June last year.

Management blames delays by a customer and problems due to flooding. It also claimed that the cooler than normal summer hit the maintenance side of the business.

Daniel Stewart has slashed its profit forecast for next year from £7m to £2.2m for the year to September 2008. Worthington has net cash of £12m – equivalent to nearly 14p a share.

© 2024 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 This material may not be published, broadcast, rewritten or redistributed.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 AIMMicro.com. Subscribe to AIM Micro RSS Feeds