warning - LJN Blog Posts - Landscape Juice Network2024-03-29T11:04:46Zhttps://landscapejuicenetwork.com/profiles/blogs/feed/tag/warningTesco shares plunge after profit warninghttps://landscapejuicenetwork.com/profiles/blogs/tesco-shares-plunge-after-profit-warning2014-12-09T10:00:23.000Z2014-12-09T10:00:23.000ZLandscape Juicehttps://landscapejuicenetwork.com/profil/LandscapeJuice<div><p>Tesco has warned its full-year profits will be substantially below market expectations.</p>
<p>The supermarket chain said its group trading profit for the full financial year "will not exceed £1.4bn", below the £1.8bn to £2.2bn range expected by markets.</p>
<p>The downgraded guidance follows its admission earlier this year that it had misstated its profits by £263m.</p>
<p>Its shares plunged 16% following the unscheduled trading update.</p>
<p>The firm said it had implemented new policies and procedures since the accounting problems came to light, and its new approach would "ensure that revenue recognition is transparent and appropriate".</p>
<p>Tesco owns the Dobbies chain of garden centres.</p>
</div>William Sinclair issues profit warninghttps://landscapejuicenetwork.com/profiles/blogs/william-sinclair-issues-profit-warning2014-05-20T13:37:27.000Z2014-05-20T13:37:27.000ZLandscape Juicehttps://landscapejuicenetwork.com/profil/LandscapeJuice<div><p>William Sinclair - the growing media and horticulture product supplier - says that whilst order intake and sales early in the season were encouraging, the extent of the growth in revenues compared to the prior year that had been anticipated to result from a return of more normal weather patterns did not fully meet expectations.</p>
<p>Sales to both retail and professional customers have been disappointing. Whilst the company expects broadly to break-even at the underlying EBITDA level, the group will report a significant underlying net loss for the year.</p>
<p>As a consequence of this trading performance, Sinclair's net debt at the interim period end and subsequently is greater than expected, and the company does not therefore intend to pay an interim dividend. </p>
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