Havelock Europa warns full-year results will be "disappointing"

28th Nov 2014 15:06

Havelock Europa said it expects full-year profits to fall below the group's expectations due to delayed orders during the second half.The group expects to report £0.9m in exceptional costs for the current year which include costs in senior management changes and in the restructuring of its Stage System division.Nevertheless, Havelock believes it will enter the next year with an improved pipeline."While it is disappointing that profits will be below expectations, the outlook remains positive and the board is confident of achieving its expectations for 2015," chief executive Eric Prescott said.Shares were down 11.74% to 17.1p at 12:55 on Friday.