10th Feb 2015 08:25
LONDON (Alliance News) - Physical metals trader Ambrian PLC on Tuesday said the difficult conditions it expected to emerge in the physical commodities market materialised at the end of 2014 and into 2015 and expects revenue from its core metals trading arm to be significantly lower in the second half.
Ambrian said it expects revenue from the Ambrian Metals Ltd business to be down around 30% in the second half of the year to December 31 against the first half.
The company also expects these issues to continue in the first quarter of 2015, though it does expect an improvement in the latter part of 2015.
It added, however, that the increase in volumes traded will provide a base for the company to improve its performance when conditions in the metals market recover.
Ambrian shares were down 30% to 5.25 pence on Tuesday morning, one of the worst performers in the London Main Market.
By Sam Unsted; [email protected]; @SamUAtAlliance
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