Orbis, which protects property across Europe, issued a profits warning yesterday and announced the replacement of its chief executive.
Orbis made pre-tax profits of £3.22m in the year to March 2001 and was expected to increase this to £4.12m in the current period. Last November, the group said it had experienced operational delays in news products and contracts.
Ian Quinlan, chief executive, has resigned and is being replaced temporarily by Jonathan Horton, currently a non-executive director.
Financial Times 03/04/02 page 26 (News Digest)
The Guardian 03/04/02 page 29 (Market Forces)
The Independent 03/04/02 page 17
