Finance

Intu shares fall further after interim results

By 2018-07-27T07:05:00

Finance

Source: freeimages.com

Intu’s shares continued to fall during Thursday after the troubled retail focused company announced a 6% downturn in its portfolio value as David Fischel announced he was stepping down as CEO.

Shares in the company finished 8.31% down at 165p. In a note on Thursday afternoon analysts at Jeffreis said ‘the estate agents didn’t so much take a knife to intu’s portfolio but a hefty first swing with a scythe, with a -6.2% devaluation, which was amplified by high gearing to a -12% NAV’ giving the company a rating of ‘underperform’.

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