Hillsdown delivers upbeat statement
HILLSDOWN issued an upbeat trading statement to dispel speculation that its performance had fallen behind expectations.
It said internal forecasts for the full year to December showed group profits consistent with market expectations and that operating profits in the first four months of 1998 were broadly in line with the same period in 1997. It would not comment on reports claiming that first quarter profits had dropped from £24.9 million to £20.2m.
Unigate said yesterday it had pulled out of bidding for Hillsdown at the last minute because “we were unable to share Hillsdowns view of their prospects”. Hillsdown said Unigate lacked understanding of the businesses.
- Unigate to wait for Hillsdown denerger, FWi, yesterday (1 June) Click here
- Financial Times 02/06/98 page 20
- The Times 02/06/98 page 29
- The Independent 02/06/98 page 27
- The Scotsman 02/06/98 page 25
- The Guardian 02/06/98 page 22
- The Daily Telegraph 02/06/98 page 32