Yacht services provider YCO Group says that it will breakeven at the trading level this year which is much worse than expected.
The shares lost more than one-quarter of their value. At 7p a share, YCO is valued at £3.39m.
YCO made an operating profit on continuing activities of £647,000 in the first half so that suggests a significant second half loss. However, costs have been increased in the second half and contracted revenues have been delayed into 2012.
When YCO reported its 2010 results house broker Arbuthnot upgraded its 2011 profit forecast from £600,000 to £900,000.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2011_26.pdf
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.