SHARE PRICE FALLS
Sector slump hits Group Five profit
Group Five says it expects to report a significant slide in earnings when it releases its results later this month.The decline would reflect the effects of a weak trading environment as well as the monetary commitment it made to the government for a range of initiatives to accelerate transformation in the construction sector, the group said on Thursday.The company’s share price fell more than 5% on the news.In an additional trading statement, the construction company said it would report a headline loss per share for the six months to December 2016 of between 300c and 320c from headline earnings per share of 131c in the year-earlier period.In December the group said it expected a headline loss per share of at least 170c.Group Five also said it would be increasing its stake in Hungarian road concession firm M6 Mecsek but would on-sell some of the additional equity to its joint venture partner, Aberdeen Infrastructure Funds (AIF).Group Five exercised its right to acquire a further 10%...
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