10th Sep 2015 07:59
LONDON (Alliance News) - Haynes Publishing Group PLC said Thursday that it will recognise a non-cash impairment in relation to its US operations, and as a result will now report a "material" non-cash loss after tax for its full year results.
However, the company noted that excluding exceptional items, it anticipates reporting results in line with expectations for the year to end-May. It expects to release these results before the end of September.
The company said that its year-to-date operating performance in its HaynesPro and Haynes UK businesses is satisfactory, whilst its US business is trading below expectations. It plans to launch an operational and cost review into the wider group.
Shares in Haynes were down 8.6% at 112.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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