12th May 2015 10:09
LONDON (Alliance News) - Shares in property development and project management business Formation Group PLC jumped by a third Tuesday after it said it expects to post significantly improved results for its first half.
For the half year to end-February Formation expects to post a swing to a modest profit of GBP250,000, compared to a pretax loss of GBP173,000 a year before, on revenue of over GBP10 million, compared to GBP3.2 million.
Formation will announce its first-half results May 30.
Shares in Formation are trading up 35% at 2.97 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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