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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