The City was hoping for a haul of up to £18million this year and the warning sent shares down 11.7 per cent, or 6.5p, to 49p. Shares in HSS have fallen by 11.7% after investors abandoned the beleaguered tool hire firm following yet another profit warning. The stock fell as much as 6% to $28.50 on Wednesday before recovering some of its losses. 83.4m ($107m), 77% down since its shares were first listed in 2015. The company’s poor performance has led analysts to suggest a merger with rival firm Speedy Hire. “Losses are growing too quickly. The conditions are challenging and investors are losing patience”, said Neil Wilson, senior market analyst at ETX Capital.
Shares in HSS have fallen by 11.7% after investors abandoned the beleaguered tool hire firm following yet another profit warning. The stock fell as much as 6% to $28.50 on Wednesday before recovering some of its losses. 83.4m ($107m), 77% down since its shares were first listed in 2015. The company’s poor performance has led analysts to suggest a merger with rival firm Speedy Hire. “Losses are growing too quickly. The conditions are challenging and investors are losing patience”, said Neil Wilson, senior market analyst at ETX Capital.