HOME
VEGA announces below expectation full year results
Written by Business Weekly   
Tuesday, 15 May 2007
VEGA Group, the Welwyn based programme and system assurance provider to the areospace, defence and government markets has announced a year-on-year growth in revenue and operating profit, but said it expects its full year results to be marginally below market expectations.

The firm said that it expects significant changes in the group's management and organisation structure, which have led to exceptional costs of £0.8m from staff terminations and the consolidation of offices in Germany and the UK, to leave the business better positioned for the future.

“I believe we are now very well positioned to embark on our next stage of organic growth and also to move forward with our strategy for acquisitions,” said chief executive, Phil Cartmell.

The group has seen an almost eight per cent loss of share value, dropping 22.5p to 264p.

 
< Prev   Next >
[ Back ]
Newmarket Racecourses Natwest Rowley Mile Conference Centre