Qualceram shares plunge after profit warning

BATHROOM suites maker Qualceram Shires saw its shares plunge 21 cents or 15% to €1.19 yesterday after it issued a strong profit warning.

The group said sales for the year to December 31, 2005, would be well below last year and made it clear the result would fail to meet the market’s expectations.

Stockbrokers NCB said it expected sales to be down 5% year on year. In a note on the group it said it expected turnover to be down and as a result “forecasts will miss market estimates as corrective action will be insufficient to offset this decline”.