WHK Group

WHK Group has provided a mildly disappointing market update, sending its shares down more than 3%. The announcement noted ‘some principal departures’, ‘challenging’ business conditions and full-year earnings before interest, tax and amortisation ‘slightly ahead’ of 2012, weighted 45% to the first half and 55% to the second. The second half weighting had been previously flagged and we had only been expecting a small amount of EBITA growth, but the tone of the announcement was certainly negative. The share price fall, though, probably has more to do with what wasn’t said. The last we heard, WHK was in (‘very...

WHK Group has provided a mildly disappointing market update, sending its shares down more than 3%. The announcement noted ‘some principal departures’, ‘challenging’ business conditions and full-year earnings before interest, tax and amortisation ‘slightly ahead’ of 2012, weighted 45% to the first half and 55% to the second.

The second half weighting had been previously flagged and we had only been expecting a small amount of EBITA growth, but the tone of the announcement was certainly negative.

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