Shares in Connaught, the embattled outsourcing company, lost almost half their value yesterday after it said that it will make a “material loss” this year and warned of “significant write-downs” in the carrying value of certain assets.
Sir Roy Gardner, who was parachuted in as chairman in May to try to turn the company around, said he faces “challenges” in reversing Connaught’s fortunes.
Daily Telegraph 07/08/10 page 29
