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Indian power supplier forecasts slashed
Thursday 07 Sep 2017 Author: Steven Frazer

Indian power supplier OPG Power Ventures (OPG:AIM) has come a cropper as volatile coal prices continue to wreak havoc. The AIM-listed £111m company saw its share price slammed 28% lower after management admitted that expectations for the year to 31 March 2018 will be ‘impacted by coal prices being significantly higher than consensus expectations.’

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‘The gross margin for the current year is now anticipated to see a material negative impact,’ chimed in Shore Capital. Analysts at the broker have slashed earnings per share from 7p to just 1p, and cut March 2019 estimates from 8p to 4.5p.

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