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BUZZ-Brammer: worst day on profit warning

Reuters - UK Focus

** Brammer (Other OTC: BMMEF - news) slides 44%, biggest one-day drop ever (IPO in 1983), in very strong volume

** Company, which distributes industrial maintenance, repair and overhaul products, says adjusted H1 PBT now expected to be below expectations at c£5m

** Weakness seen in May has not reversed and has continued into June

** Underlying margin in May and June month to date down against the previous year

** Interim dividend under review

** Jefferies flags the market has been concerned about Brammer's debt and this downgrade and company commentary that "the group will be close to its net debt/EBITDA covenant at period end" won't help

** More than 3x the 90-day daily avg volume through in just half an hour of trade (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)