• Shares in vehicle auction giant ADT plunged by 21% after worries over its trading performance.
18th July 1991, Page 13
18th July 1991
Page 13
Page 13, 18th July 1991
— • Shares in vehicle auction giant ADT plunged by 21% after worries over its trading performance.
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The fall was sparked last week when ADT's major shareholder, the Canadian waste management company Laidlaw, stated that ADT was making large operating losses.
ADT protested that the losses were hangovers from discontinued businesses and that its core commercial vehicle and car auctions were in profit.
A concerted share-buying campaign by ADT chairman Michael Ashcroft and his directors failed to halt the slide, even though BZW, ADT's brokers, have forecast a 10% increase in profits at the company's truck and car auction divisions.
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