SHARES in Stirling-based fibre glass insulation manufacturer Superglass plunged 16.9% to a record low of 14.75p yesterday after underlying losses for its first six months climbed almost 400-fold and it issued a warning over prospects for the current year.
SHARES in Stirling-based fibre glass insulation manufacturer Superglass plunged 16.9% to a record low of 14.75p yesterday after underlying losses for its first six months climbed almost 400-fold and it issued a warning over prospects for the current year.
DEFIANT: Chief executive Alex McLeod has played down the significance of the drop in the Superglass share price. Picture: Peter Devlin
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TIM SHARP CITY EDITOR
Superglass is preparing for a £6.5 million overhaul of its plant, dubbed Project Phoenix, after a financial restructuring last year that left Clydesdale Bank with convertible shares equivalent to 23% of the company.
But while revenues were up 14.5% year-on-year in the six months to £17.2m, Superglass warned there is still uncertainty about the Government's key green policy and said revenues for the rest of the year will be lower than previously expected.
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