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Technology / AI and automation

GEC WARNS PROFITS MAY BE DOWN ON LAST YEAR

GEC Plc warns that profits for the year the end of March, due to be announced in July, may well be in the region of UKP650m, implying a 7% decline over last year, and coming in below analysts’ forecasts of UKP675m to UKP690m: in an interview in the International Herald Tribune, the company also confirmed that it had submitted a bid for Lear Siegler’s aviation group but doesn’t expect to win it; Hanson Trust has responded to confident reports that it has built a 4% stake in GEC by saying it does not hold a single share in the company.

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CBR Staff Writer

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