29 June 2017 – profit warning
The group has revealed that it has become aware that there have been material levels of under consumption in certain contracts placed with one of the major energy companies that the company deals with. This is likely to result in a shortfall of income of some £11.7m in the year to 31 July. Although the group maintains this is a one-0ff event this is clearly a concern to investors and we reduce our recommendation to SELL.