Friday, August 03, 2007

Clipper Wind Manufacturer a bad investment, poor performance

Clipper Windpower, the wind turbine manufacturer that is backed by Sir Anthony Hopkins, the Oscar-winning actor, and Colin Moynihan, the former Olympian and Conservative minister, tumbled after it braced investors for a large half-year loss.

The California-based group, one of the biggest stocks on AIM, said that supply constraints meant that turbine production this year would fall nearly 30 per cent below analysts’ expectations. It added that it faced a non-recurring charge of $25 million (£12.1 million) in forthcoming first-half figures after losses on two projects. Clipper’s shares plunged nearly 11 per cent, or 87p, to 701½p.

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