Blumont shares take another hard knock after profit warning

SHARES of Blumont continued to slide following its recent profit warning, diving 12.5 per cent to 4.2 Singapore cents yesterday in active trading.

At market close, more than 36 million shares changed hands.

The investment holding company had last month said that it expected to report net losses for the second quarter and first-half ended June 30 due to "fair value readjustments of its investments in transferable securities (financial assets), attributable to the recent volatility in the financial markets and global economy".