Molins issues profit warning after poor quarterly performance

12th Dec 2016 12:13

(ShareCast News) - Molins, an AIM listed international engineering and services company, has docked down its expectations for its full year performance after poor trading in the final quarter. The company attributed this to an unfavorable sales mix and a number of deliveries which were delayed into the early part of 2017.On the plus side, order intake has increased by 80% over the previous period with the packaging machinery businesses benefitting from a strong period of prospects. The group expects to enter 2017 with a "significantly" higher order book than it had entering this year.The board also feels that the group's strategic plan is continuing positively.The share price dropped 2.8% to 52p at 1231 GMT on Monday.