Grayling owner Huntsworth issues profit warning

Huntsworth, the holding company for Grayling, Citigate and Red, has warned investors that its first-half profits will be below expectations.

Huntsworth: Led by chief executive Lord Chadlington
Huntsworth: Led by chief executive Lord Chadlington

The announcement this morning sent the company's share price down by as much as 19 per cent from its close on Friday in early trading.

The company, which said it expected the second half of the year to show improvement over the first, also provided an update on its chief operating officer Sally Withey, who has taken time off with ill health.

It said Withey was expected to return to work in September.

The most recent quotes for Huntsworth's share price put it at 44.4 pence, which is a 14.3 per cent drop from Friday's close.

The drop follows a previous decline from around 70 pence at the end of April, when the company said in its annual results announcement that it planned to increase investment.

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