Brewin Dolphin buys 10% share from investment bank worth 拢11m
Investment bank Goldman Sachs reduced its stake in Jarvis by 10% leaving it with a 12.06% holding in the troubled support services group.
It is understood that UK broker Brewin Dolphin bought the 10% stake at the end of last week and placed its with institutional clients. The stake is worth around 拢11m.
Earlier this month, Jarvis posted a pre-tax loss of 拢1.5m for the six months to 30 September, marking a significant improvement on the 拢59.3m loss in 2005.
However, turnover from continuing operations fell from 拢177.7m to 拢153m partly due to downturn in rail contracts and also because of the virtual winding-up of its construction operations.
