SHARES in Ultraframe, the Clitheroe-based conservatory roof manufacturer, have continued to plummet with a further £31million wiped off the company's value in just one day of trading.
The company surprised the City last week with a second profits warning in less than six months. Within minutes of the announcement, the share price fell 51p, taking £50million off the value of the business.
The share price nose-dived by a further 31p in trading yesterday, giving the company a market capitalisation of just £226 million - less than half its figure just 12 months ago.
The latest fall will come as a blow for many of the company's 500 employees who bought shares in the business when it floated on the market in 1996.
Since last summer, Ultraframe employees who kept hold of their shares have seen their value fall from a peak of over £6 a share to £2.32 a share.
The collapse in the share price followed the company's warning to the Stock Exchange on Friday that profits for the full year were likely to fall to £25.3million - around £2million below market expectations.
The warning followed one made in March in advance of the interim results which saw a 13 per cent fall in pre-tax profits to £9.1million.
No-one from Ultraframe was available to comment.
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