Norish results chill market sentiment

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Norish results chill market sentiment
Master Investor Magazine

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AIM-listed firm Norish (LON:NSH) saw its shares drop 4.76% to 60p (as of 14:00 BST) despite a 43% improvement in pre-tax profits for the six months ended 30th June. Revenues in the company’s sourcing division dropped by 15.5%, outweighing improvements in the firm’s other divisions.

Management said that the cold storage division will continue to focus on improving revenues by working together with customers and would be taking steps to offset cost pressures as the market nears capacity. The board recommended that an interim dividend would not be paid this year.

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