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Profit slump at May Gurney

Support services company May Gurney (MAYG) reported a sharp drop in profitability and margins, but says a strong order book will help them hit revised full-year targets. Underlying pre-tax profit collapsed from £14.5m in the prior period, to £1.1m in the six months to the end of September after closing the facilities services division incurred costs of £10m. Management was confident enough to hold the interim dividend, but challenges remain in problem contracts.

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By John Ficenec,
04 December 2012

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