Shares in Humberts Group fell 18%, after a decline in full year profits that the company blamed on fall-out from the Northern Rock crisis, saying home buyers had all but vanished last month. Financial Times, The Times
The company said that underlying profits for the year to September would be below market expectations. Shares fell 8.5p to 39p.
Panmure Gordon, the company’s broker, cut its pre-tax profit forecasts for the full year from £4.5m to £4m on revenues of £31.7m, and for 2008 from £6.8m to £5.4m on revenues of £37.4m