Advertisement
UK markets open in 28 minutes
  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     
  • HANG SENG

    18,925.30
    +387.49 (+2.09%)
     
  • CRUDE OIL

    79.87
    +0.61 (+0.77%)
     
  • GOLD FUTURES

    2,368.70
    +28.40 (+1.21%)
     
  • DOW

    39,387.76
    +331.36 (+0.85%)
     
  • Bitcoin GBP

    50,134.45
    +919.31 (+1.87%)
     
  • CMC Crypto 200

    1,352.68
    -5.32 (-0.39%)
     
  • NASDAQ Composite

    16,346.26
    +43.46 (+0.27%)
     
  • UK FTSE All Share

    4,558.37
    +14.13 (+0.31%)
     

BUZZ-APR: Warning on FY core earnings sends shares to record-low

** APR Energy Plc (Other OTC: APRYF - news) 's stock fall to a record low, after the company which runs temporary power plants warns that FY adjusted EBITDA will be about 500-600 bps lower than its previous guidance, hurt by the Libya operation halt.

** Having fallen 22 pct to a low of 194.25 pence, APR's shares are among the top percentage losers on the LSE.

** The stock has shed about 80 pct of its value since listing in 2010, and lost just under half of its worth since APR warned last month it would temporarily shut its 450 MW Libyan operations that were key to its swing to profit.

** Numis analyst Steve Woolf reduces his EBITDA forecast to $239 mln from $270mln. He put his TP and recommendation under review pending a further update in 2015.

ADVERTISEMENT

** APR cautioned in October that FY profit would be at the lower end of market expectations.

** The company says on Tuesday that operations are still on halt pending final ratification of the contract by the government.

** APR also says it expects revenue for the year to be about $490 mln, short of analysts estimate of $493.78 mln, according to Thomson Reuters I/B/E/S.