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PKL - Disappointing contract news

November 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • PKL
  • Price:
  • 87p
PKL has warned on results following a management review of contracts and concluded that, for various reasons, results for the current year will be negatively impacted. Broker Arbuthnot has halved its forecast for the current year to £3m pretax and eps of 5.7p. Next year’s forecast is reduced from £7m to £5m, with eps reduced from 13.7p to 9.6p. On the healthcare side, PKL said revenues in H1 have grown significantly as has the rent roll. Here, PKL has been chasing larger and more complex contracts. Two large contracts, which typically have low margins anyway, have revealed cost overruns and the necessary time and cost implications for completing these contracts has significantly exceeded initial estimates. ...

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