Challenging times ahead for Mouchel

Financially troubled outsourcing firm Mouchel said full year losses swelled to £64.8m from £14.7m the year before and it predicts worse is still to come. Shares in the group plunged 25%.

Financially troubled outsourcing firm Mouchel said full year losses swelled to £64.8m from £14.7m the year before and it predicts worse is still to come. Shares in the group plunged 25%.

For the year ended 31 July 2011 revenue fell to £551.4m from £632.6m the same time a year earlier. Underlying operating profit slumped 62% to £15.7m from £41.2m.

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