Architect Aukett Fitzroy Robinson was forced to make another uncomfortable disclosure to the City this week.
Last week boss Nicholas Thompson had a judge wagging a finger in his face about the “delayed communication” of the exit of a senior employee to a client. This week brought news that one of its major Moscow schemes has been delayed – “possibly for a lengthy period”.
Cue a 44% share price drop, although to get it in perspective that’s a fall from 4.6p to 2.6p.
Elsewhere, rail specialist Jarvis continued its recent tentative climb north at the news incoming chief exec Stuart Laird had splashed out £16,600 on 200,000 shares. Chairman Steven Norris had laid out £22,500 five days earlier. Time to pile in then?
Probably not if you’re looking to make a quick buck. The longer-term potential is huge but after a string of problems that include the Potters Bar train crash and a painful experience with PFI, the jury is out and booked into a comfortable hotel.
Qatar-based steel contractor Panceltica announced the appointment of several directors this week – although it dates back a few weeks. The company hasn’t exactly been timely in its announcements and still hasn’t released financial results that were due in June. “The Stock Exchange are on their backs pretty regularly about this,” said someone close to the company.