More Pain For Woodford After AA Profit Warning

Neil Woodford-backed breakdown specialist is embarking on an ambitious turnaround, after profits slumped and the dividend was slashed

David Brenchley 21 February, 2018 | 3:39PM

car breakdown motor more pain for woodford after aa profit warning

It has been three weeks since we last wrote about a Neil Woodford holding seeing its share price decline by double-digits in one morning, so it’s about time we had another. Then, it was Capita (CPI) under the microscope; this time, it’s AA (AA.).

The iconic yellow-liveried breakdown specialist warned that profits for the year to 31 January 2019 would be between £335 million and £345 million, compared with analyst expectations of £390 million. It also slashed its dividend by more than three quarters to 2p.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
AA PLC27.65 GBP0.00
Capita PLC36.06 GBP0.00
GVQ UK Focus I GBP Inc21.85 GBP-3.24
Henderson Smaller Companies Ord822.62 GBP2.83
LF Woodford Equity Income C Sterling Acc15.17 GBP-1.60
LF Woodford Income Focus A Sterling Acc56.82 GBP1.13
Liontrust Special Situations I Inc409.45 GBP0.37
River & Mercantile UK Eq Sm Cos B Acc2,096.43 GBP-0.01
St James's Place UK High Income Acc711.90 GBP1.71

About Author

David Brenchley

David Brenchley  is a Reporter for Morningstar.co.uk

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