Slowing sales figures help to push Wolfson shares to new record low

Published on Thursday 2 October 2008 21:44

SCOTS STOCKS

WOLFSON Microelectronics dived to a new low yesterday after warning that orders had slowed materially in recent days, blaming cautious customers fearful of a major slowdown in consumer electronics.

Despite its third-quarter sales meeting estimates, news that sales in the three months to 31 December could be $15 million below forecasts sent shares down 24.9 per cent to 82.25p.

Retinal scanning company Optos, which warned on Tuesday that revenue in the year to 30 September would be below its previous guidance, fell to a new low of 91.75, down 7.25p for the day.

Oil continued to slide, sending producers and oil services shares sliding. Among the oil explorers, Dana Petroleum eased 26p to 1,156p and Venture Production dropped 17p to 590.5p. Wood Group, the Aberdeen oil services giant, lost 7.8 per cent to 325.75p.

On Aim, Powerleague, the five-a-side football pitch operator, lost 0.5p to 33p after reporting flat profits of 5m, despite a 14 per cent rise in sales. Rival Goals Soccer Centres added 4p to 212p.

Braveheart, the angel investment company which warned yesterday that it was set to post a net loss in the first half, dropped another 8.5p to 61.5p.