gretel
02 Feb 2015
Hidden profit warning from LBB Last week's RNS from LBB is rather sneaky and underhand imo:[link] Finncap revenues for 2014 will now be £2.5m less than they'd forecast, due to lower than expected volumes and Agency division sales.They've changed their forecast to a loss of £0.5m (from a £0.8m PBT). For 2015 they now go for £2.4m PBT, reduced from £3.2m, and 0.07p EPS.None of this - in terms of not meeting expectations - is mentioned in the RNS.I'm not a holder as I always thought LBB looked expensive. LBB will now have to recover the trust of the City, so although the valuation is looking better now - if only on a forward basis - it may drift further until the next set of figures to June'15 and we can assess whether those 2015 figures look reasonable.
