Babcock & Brown saw its share price dip to a record low
following the departure of its high profile non executive
director.
The share price of Babcock & Brown – which in August
acquired an interest in Angel Trains from the Royal Bank of
Scotland – dipped 17 per cent today after Phil Green, who is also a
former chief executive of the company, stepped down from the
Australian-based financial services specialist.
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Profits before tax at the second quarter of this year totalled
£6.3m, £1.8m less than last year, while uncommitted cash available
for investment reached £45m, £16m less than at the same time in
2007.
Babcock & Brown, which recently appointed Irishman John Fanning
as chief financial officer of the troubled group. He replaced
Michael Larkin, who took up the reins as chief executive. Green had
been chief executive for four years and had been with the company
for 24 years.
