Embattled Yell sees share price tumble after Yellow Pages publisher reveals falling sales
Wednesday, 15 February 2012 09:29
Embattled Yell saw its share price tumble after the Yellow Pages publisher revealed falling sales, which demonstrate the group’s turnaround strategy has yet to take hold.
The debt-laden firm posted a 15.1 per cent year-on-year slump in sales to £382.8m for the three months to the end of December.
Yell chief executive Mike Pocock blamed the ‘deteriorating macro environment and a more competitive digital directory market’ for the poor sales.
(Source: This is Money. Read more....)