WH Ireland shares recover on profit warning

WH Ireland shares have recovered ground after falling as much as 15% as the group warned full year profits will come in below previous expectations.

The stockbroker said a decline in commission revenue within its wealth management division in the final quarter is among the factors which will hit full-year profits. Results for the year to 30 November will also be affected by delays to M&A activity, with some transactions within the corporate broking division now delayed until 2015, the company added. Additionally, WH Ireland flagged “significant non-recurring costs” relating to ongoing reorganisation costs. Shares in the group were down 15% at 80p in early trading, but later recovered to trade down just 0.6% at 93.95p by mid-aft...