Gloom continues for new BG boss amid profits slide
The former Royal Dutch Shell executive said he shared shareholders’ “disappointment” at the oil producer’s many problems, which have included four profit warnings in little more than 12 months.
Last week Finlayson declared “force majeure” notices in Egypt, meaning the group would cancel contracts due to circumstances out of its control, which resulted in a 13.8% slump in the share price on the day.
Some analysts believe BG cannot carry on in its current form. Garry White, chief investment commentator at broker Charles Stanley, said: “I reckon it’s time for BG Group to be broken up.”