Shares in the UK pub operator, Eldridge Pope, fell by 13.2% to 118.5p on Friday, valuing the company at £29.3m, after the company issued a profit warning.
This was the company’s third profit warning since last July. The company said difficult trading was likely to result in a half-year loss.
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Analysts have reduced full-year profit forecasts to around £4.1m, with the customarily stronger second half offsetting the predicted first-half loss of £500,000 loss in the first half. Like-for-like sales for the year are expected to fall by 8%. The company said it was taking steps to reduce costs.
