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July 8, 1987

FLETCHER DENNYS’ SHARES FALL FOLLOWING BAD RESULTS

By CBR Staff Writer

Fletcher Dennys Plc’s shares shed 23p to 72p yesterday before recovering to 77p after the company announced even worse results (see page three) than it forecast in its statement back in May (CI No 678) which warned that the final part of the year to March had not gone well; instead of the revised forecast loss of UKP500,000, Fletcher Dennys lost UKP901,000 but says that the difference is due to profits from a completed contract being taken in the current year rather than in the one reporting; chairman Keith Bull says this year is going well and he says that a major acquisition is on the cards soon.

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