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BUZZ-UK Mail: FY profit warning hits shares

Reuters - UK Focus

** Delivery company UK Mail (LSE: UKM.L - news) down to lowest since October 2014 after co warns on FY profit, hurt by additional operating costs relating to the transition to its new automated hub in Ryton near Coventry

** Co sees FY PBT before one-off exceptional items between 10 mln stg to 12 mln stg. (FY 2014- 21 mln stg)

** Stock falls as much as 22.6 pct, bottom performer on the FTSE All Share Index and the FTSE All Share Industrial Transportation Index

** Co sees FY "performance" materially below current market expectations

** Cantor Fitzgerald puts recommendation on the stock "under review from "buy". (TP under review from 590p)

** Investec (LSE: INVP.L - news) downgrades to "add" from "buy" (TP 485p from 535p). Brokerage believes the impact is relatively temporary and sees an improvement in performance for FY 2017e (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)