Jarvis, any port in a storm?
Surveying the wreckage of the stock boards, with shares in such service sector blue-chips as AMEC, Atkins, Balfour, Capita - heck, nearly all of them - showing 20p+ falls, who stood out in the sea of red? Recording a 0.75p rise, Jarvis, almost uniquely, showed a gain.
Is Jarvis, with borrowings of £42m weighing on its £35m market cap, now a suitable home for widows’ and orphans’ savings? We doubt it. More likely, yesterday’s rise was further evidence that Richard Entwistle’s efforts to turn the railway engineer into a ‘normal’ company are not done yet.
Yesterday was one of those days where Jarvis might have preferred to fall with the crowd.
