Gold Greenlees Trott has warned of a cut in its total dividend payment, due to a profits shortfall for the year. The group said it was unlikely to report more than £3m in pre-tax profits for the year to 30 April.
The total dividend payment will be cut to 5.3p from 8.3p. The group expected a strong US performance to offset low turnover in the UK, but due to higher than expected business costs and postponement, this was did not materialise. GGT’s share price this morning dropped 45p to 194p.
MIDLAND FLOTATION
Midland Independent Newspapers, on its first day of trading, went to a 29p premium over its issue price, trading at 169p.
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