UK's Alumasc tumbles after project delays hit sales, CEO suspended
BUZZ-UK's Alumasc tumbles after project delays hit sales, CEO suspended ** Shares of British building products group Alumasc ALUG.L fall as much as 20% to 184p
** Co forecasts fiscal 2026 revenue of about £107 million and underlying pretax profit of £10 million, compared to £113 million and £14 million last year, hurt by project delays
** Separately also says CEO Pamela Bingham has been suspended "pending an investigation into matters relating to her professional conduct," without giving details
** Non-Executive Chair Vijay Thakrar temporarily assumes Executive Chair responsibilities
** Peel Hunt cuts price target to 325 pence from 355 pence after trading update, notes that news on CEO "is clearly unhelpful for the wider business" and likely to create volatility
** YTD, stock down 18.25% including session losses
(Reporting by Anushka Chourasia in Bengaluru)