Lakehouse (LAKE) - another profit warning, highlights the perils of acquisition driven growth
The interim results for the six months from 1 October 2015 to 31 March 2016 reflect a period when the Group’s Regeneration division (the largest part of the business) faced more difficult trading conditions than expected, apparently as a result of reduced client budgets and changes in procurement structures. In response to this, management focused on expanding the division’s external work offering, particularly roofing. While the business has had “considerable success in winning new work…
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