British security firm Securicor said today its second-half performance would be hit by difficult markets to sending its shares falling.
The shares dropped as much as 18 per cent lower as analysts cut their forecasts despite a rise in first-half profit.
The firm - which transports money, processes cash, and provides security guards - said it would be hit in Britain and continental Europe as many clients were cutting back on services or delaying purchases.
US investment bank Merrill Lynch lowered its rating on the shares to "sell" from "buy" and said it would cut its earnings per share estimates. Dutch bank ABN AMRO cut its forecast for full-year operating profit by 10 per cent.
Securicor reported a 6 per cent rise in underlying earnings before interest, tax, amortisation and exceptional items to £35 million sterling in its half year to March 31st.
Securicor's shares have outperformed those of its peers in the support-services sector by around 10 per cent in the past 12 months.