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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

Jarvis shares slump

Engineering group Jarvis is a company with a chequered history, to put it mildly. It was involved in the Potters Bar rail crash, and it nearly went bust a couple of years ago.

Today came more bad news for any shareholders who had stuck with the company through thick and thin: a profit warning which wiped 70% off its stock market value.

Jarvis said changes in rail maintenance work and other rail agreements, along with a fall in its vehicle hiring business, would knock £8m off its full-year operating profits. Its shares slumped 54.25p to 23.75p. To put this in context, at their peak they were worth not 23p but £23 each.

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