Metalrax loses Morrisons contract
31st July 2012
ALVECHURCH-based manufacturing group Metalrax saw its shares dip by 9.5% in early trading this morning as shareholders reacted unfavourably to the announcement that it had lost a key contract with supermarket giant Morrisons.
The contract - with the firm’s consumer durables division - represents 3% of Metalrax’s annual group revenue.
In March Metalrax revealed an annual turnover figure of £63m which would mean the Morrisons contract was worth around £1.9m.
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