UK engineering group issues third profits warning

Shares in troubled engineering group Mowlem plummeted today after it issued its third profits warning in eight months.

UK engineering group issues third profits warning
Tue, 05 Jul, 2005 - 17:10

Shares in troubled engineering group Mowlem plummeted today after it issued its third profits warning in eight months.

Mowlem’s stock dropped 8% after it said a review of the way it values contracts and accounts for profits would result in a £20m (€29m) reduction in profit expectations for 2005.

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CourtsBusinessHeathrowPlace: UKPlace: LeedsPlace: YorkshirePlace: IsleworthPlace: MiddlesexPlace: BathPlace: BracknellPlace: BromboroughPlace: MerseysidePerson: SirPerson: John GainsPerson: Gerald BrownPerson: Charles FisherPerson: Simon VivianOrganisation: MowlemOrganisation: Private Finance InitiativeOrganisation: PFIOrganisation: Ministry of DefenceOrganisation: Government Private Finance InitiativeOrganisation: Mowlem BuildingOrganisation: Mowlem InfrastructureOrganisation: Mowlem Engineering
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