Date: Thursday 06 Oct 2011
LONDON (ShareCast) - ACM Shipping, the ship broking firm, has issued a profit warning for the year ending March 2012 following the departures of key personnel in its sales and purchasing team.
The company has now been forced to make a one off write down of goodwill which will “lead to a material reduction in trading for the full year”.
In addition to the embarrassing loss of staff, growth has been slower than expected in ACM's dry cargo division.
Johnny Plumbe, ACM's chief executive, said of the problems: "The board is satisfied with the performance of the core tanker operations under current market conditions and is positive about the opportunity to rebuild the sale & purchase team on a global basis in parallel with ACM's other operating divisions. We are confident that we can grow our market share."
News of the warning saw ACM's share price drop 22.2% in morning trading.
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|% Change||0.00 %|
|52 Week High||177.50|
|52 Week Low||118.00|
|Time||Volume / Share Price|
|11:18||3,125 @ 160.00p|
|Finance Director||Ian M Hartley|
|CEO||James Christopher Duchar Gundy|
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