Sentry shares tumble after loss warning
SENTRY Farming, the farm management group, has warned of a “substantial trading loss” and promptly saw its shares suffer a 20.5p drop to 43.5p yesterday (Wednesday).
Pre-tax profits stood at £94,000, against £1.74 million in 1996.
Sentry said its current difficulties resulted from sharp falls in prices for crops and livestock as well as the reduced value of European Union subsidies.
The group is currently negotiating the renewal of 50% of its contracts.
Andrew Mason, managing director, said he expected to see lower payments being made to landowners as a result.
- Sentry losses up by over a third, FWi, 23 September, 1998
- Sentry profits slump to £94,000, FWi, 09 April, 1998
- Financial Times 03/12/98 page 26 (News Digest)