Profit warning from French Connection
French Connection Group has warned that its year to end-January 2008 pretax profit outturn may not match the 4m it achieved in the previous year.
Laundry services provider Johnson Service, after UBS cut its price target, had plunged after the company said group profits in 2007 will be below its expectations, with the outcome for 2008 unlikely to match hopes.
Full-year operating profit to be about 3.0 mln usd lower than market expectations, as it sees costs in the second half to be higher than previously expected. Chief executive Tom Pfeil has resigned.
You are not wrong it is interesting to see share prices of many companies are now back where they were around the beginning of 2006, all that is holding the FTSE up are the mining stocks.
For the year to August 31st, Zenith Hygiene said its pretax loss widened to 8.6m from a restated 3.1m last year. The company said the year had seen 'challenging integration of previous acquisitions, poorer trading and the emergence of significant accounting issues which has led to restatement of the accounts for 2006 and a significant loss for 2007.'