Now, this one was just awarded the Aim company of the year. Its a bit likeMears but it has a large GAS SERVICE section and the profits from this outfit would appear to be less healthy than from its Public Service arm. Does anyone have any knowledge of this company which is not cheap BUT could be on its way to making a lot more mazuma.

Shares in Connaught slumped after the social housing firm lowered its estimates for this year and next year because of the emergency budget.

The group said it has identified 31 contracts within its social housing division where a proportion of the value relating to capital expenditure has been deferred.

Shares in the company fell by nearly 30% after the announcement, which came not long before trading closed.

Connaught's revenues for this year will be around 80m lower and underlying profit will be down 13m, it said today. If the trend continues, Connaught expects revenues to reduce 120m for financial year 2011 and underlying profits down 16m.

As a result we expect a one-off impact to our cash conversion rate, reducing to around 40% this financial year, Connaught said.

The group added that the medium-term outlook for the business remains strong.

Broker KBC Peel Hunt said it anticipates moving its 2010 pre-tax profits estimate from 55 to 40m following the shock announcement.

glad i'm out of these, thought cannot remember if it was a small profit or loss at the time

It's falling off the edge.

strewth!

Any idea where the 'oversold' level is? 180p? Can't decide where the bounce will be.

Currently in auction for the 3rd time down 32.2%

harry - don't even think of trying to catch this one

just bought some lets watch it bounce later

kerrrrrrrrrrrrrrrrchinnnnnnnnnnnnnnngggggggggggggggggggggggggg

also in from earlier @ 136, happy to leave for a while.

splat - well done & gl

take any profit and run - very fast

Government cuts in public spending will dip CNT further downwards.
SELL at 150p.

cheers gibby, you still in?

CNT covered +11, looks like a drop into the close.

don't spend all 60p at once!

this one's really flying today - like a lead balloon

shame i lacked the cojones to short yesterday against the minor recovery during the day

Nevertheless, potential for a big bounce. Risky!

any trade positive is a gain cynic, I don't mind how many I get right mate.

quite so - as i have often said, a banked profit is a profit ..... and of course you mind how many you get right, or you'ld be living in a cardboard box

harry - you're bonkers! ... 10x safer to go long BP