City File: Simon Engineering
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.EARLIER this year the smell of scorched flesh hovered over Simon Engineering, whose shares sank to a fifth of their 171p high last September. As befits a maker of fire-fighting equipment, it has now brought in its very own pyro-technician - Dr Maurice Dixson, a former director of GEC and senior executive at BAe.
Mr Dixson will start wearing the chief executive's hard hat on Wednesday, just as Simon delivers abysmal interims. It is expected to show pre- tax losses of some pounds 8m, down from profits of pounds 6.1m.
The group's assets outweight its market capitalisation and debt, and news of Mr Dixson's arrival saw the shares climb back to 71p. But with the group hit by poor trading and the petroleum revenue tax, he will need all his skills to put out the flames.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments