Albemarle & Bond – 186p

19 April 2013 – profit warning and board changes

It is disappointing that the company has waited until 17.43 on a Friday evening to publish a profit warning when it could clearly have been published during market hours, even if that meant waiting until Monday morning.  This is an example of how not to treat your shareholders!!  The company has revealed that profits for the year to 30 June will be materially below expectations due to competitive trading conditions and the fall in the price of gold.  The CEO has brought forward his retirement as a result.  The shares will obviously fall on Monday morning in early trade and we will update our recommendation when we know the share price.

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