Share indices in the week to 16 March 2001
Contractor Mowlem rallied on the stock market this week and improved 5p to 165p – a 52-week high. The move signals a change of heart in the City: its first reaction to the results was to drop Mowlem's price 1p.
The City is putting its faith in chief executive John Gains. As one analyst said: "At some point the value at Mowlem must be released. It can't always stay hidden." Kier posted its results for the six months to December 2000. Turnover was up 22% to £591m and pre-tax profit rose 21% to £7.4m. Its shares fell 3p to 383.5p.
The Square Mile was kinder to Peterhouse. The support services group posted a pre-tax profit up 83.2% at £14m, on turnover up 65% to £329.2m. Shares rose 13.5p to 416p.
