Redhall Group Plc, a British engineering support services group, said it expected full-year profit to be marginally below market view due to a fall in volumes in the nuclear and chemical markets and rejigged its top executive team.
The company said nuclear revenue continued to be held back in the short term due to delays in spending by the Nuclear Decommissioning Authority (NDA), which is responsible for the clean-up of the UK's civil public sector nuclear sites.
Redhall said Chairman and Chief Executive David Jackson would continue as group executive chairman, while Chief Financial Officer Simon Foster was appointed group chief executive, effective Nov. 1.
John O'Kane, group finance director of Jarvis Plc, has been hired for the same position in Redhall.
In a separate statement, Jarvis said it would replace O'Kane by Graham Denton, Finance Director of Jarvis Rail, effective Nov. 1.
Shares in Redhall, whose markets include nuclear, oil and gas, food, defence, safety and security and transport infrastructure, were trading down 12.4 percent at 158.5 pence at 0742 GMT on Thursday on the London Stock Exchange.
(Reporting by Purwa Naveen Raman in Bangalore; Editing by Vinu Pilakkott)