Archial shares suspended
Archial suspended trading of its shares this afternoon, pending “clarification of the company’s financial position”.
The news, which comes just weeks after its share price tumbled 61% following negotiations with HM Revenue & Customs over unpaid tax, was announced on the London Stock Exchange.
The full statement reads: “At the request of the company, trading on AIM for the under-mentioned securities has been temporarily suspended from 17/09/2010 15:15 pending clarification of the company’s financial position.”
On 26 August the practice announced its full year results would be “significantly below market expectations” as a result of the unpaid tax.
A previous update in May by the firm - which is led by chief executive Chris Littlemore - said trading for the first four months of the year was in line with management expectations.
It had forecast to make a pre-tax profit this year of £3.4 million on turnover of £30.5 million.
Earlier this year Archial started work on a £27 million mental health facility in Dumfries and in May the practice, one of two listed on the LSE, said it had £60 million worth of jobs in the pipeline.
Source: BDonline