STOCKS NEWS UK SMALL-Tanfield down on gloomy 2009 outlook
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09:41GMT 11Nov2008-Tanfield down on gloomy 2009 outlook
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Shares in Tanfield (TAN.L) plunge as much as 18 percent after the electric vehicle and lift platforms maker reinforces its September trading statement by saying it sees no sign that poor current trading levels will improve next year. Although the group is cutting costs to save cash, it forecasts nothing better than a break-even performance in 2009.
"Management reiterates its previous statement, in which it indicates that trading conditions remain difficult, not least due to the lack of credit to its end customers and a global reduction in demand. The business is now running at break-even and management has indicated that it expects a similar trading environment for 2009," says Arbuthnot analyst Xavier Gunner.
To see Tanfield's statement please click on [ID:nRnsK8614H]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
09:06GMT 11Oct2008-Northern Foods up as H1 beats consensus
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Shares in Northern Foods (NFDS.L) rise 6 percent after the food manufacturer reports first-half pretax profit ahead of market expectations. Pretax profit of 16.9 million pounds is ahead of the consensus forecast of 16.5 million. [ID:LB42271]
Citigroup says the results were "somewhat better" than it anticipated, highlights margin delivery. It expects the shares to be relatively strong on Tuesday. Continued...
