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Profit forecasts slashed after Van Elle profit warning
Engineering contractor Van Elle (VANL:AIM) has issued a profit warning less than five months since floating on the stock market. It has blamed contract delays. Stockbroker FinnCap has slashed its pre-tax profit forecast by 13.4% for the financial year ending 30 April 2017 and by 24.6% for the following year. Van Elle’s shares are now down 30% so far this year. (DC)