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AIM-listed pipe manipulation specialist Tricorn Group (LON:TCN) saw shares slump by 7.08% to 30.20p (as of 09:50 BST) as falling demand led to a contraction in the energy division during the six months ended 30th September. However, a strong performance in the transportation sector meant that overall revenues were 6% higher than during the prior half year.
As a result, management said that they believe adjusted profits before tax for the year ending 31st March 2019 will be in line with expectations. More details will be released in the company’s interim results at start of December.