Adam Lent
In an early indication of how the cuts announced in the Budget are going to cause trouble in the private as well as the public sector, a social housing maintenance company, Connaught, has issued a profits warning which led to a severe drop in its share price. A similar company, Mears, also saw its share price hit. As the FT reports, the notion that such outsourcing companies might pick up extra business because they offer cost-savings to local authorities isn’t being bought by the markets.
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Trackback made by The cuts and the private sector | ToUChstone blog: A public policy blog from the TUC on Aug 1st 2010 at 4:00 pm:
[...] the social housing services provider, was one of the first to be hit, issuing a profit warning, followed by a drop in their share price. Recent reports have warned that the FTSE 250 company is [...]
Trackback made by How the Coalition’s cuts are hitting the private sector | Liberal Conspiracy on Aug 3rd 2010 at 12:18 am:
[...] Connaught, the social housing services provider, was one of the first to be hit, issuing a profit warning, followed by a drop in their share price. Recent reports have warned that the FTSE 250 company is [...]
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[...] the social housing services provider, was one of the first to be hit, issuing a profit warning, followed by a drop in their share price. Recent reports have warned that the FTSE 250 company is [...]