• Text size      
  • Send this article to a friend
  • Print this article

Superglass investor cuts stake

INVESTOR Peter Gyllenhammer has reduced his holdings in Scottish manufacturing firm Superglass for the second time.

The Swede had a 14.7% stake in the Stirling firm but sold 2.6 million shares to reduce that to 9.4% earlier this week.

Yesterday he offloaded a further 850,000 shares, leaving him with a 7.7% stake in the business.

After starting the year at 4.75p Superglass shares have climbed in recent days to close the week at 6.12p.

The business reported flat revenue in the 12 months to August 31, and narrowed operating losses from £4.3 million to £2.5m.

It is implementing a major turnaround plan to shave around £1.4m from its annual costs.

Contextual targeting label: 
Finance

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

134947