Shares in Charles Taylor fell 11% yesterday after the company said its earnings in 2005 were likely to be affected by the weakening dollar.
The mutual insurance manager and consulting group said trading would be in line with market expectations of £10.6m, but the figure would be affected by the poor dollar and increased servicing costs for its mutual services in the US, reports said today.
The Asian tsunami and extreme 2004 hurricane season would also have consequences for the company, it said.
The shares were down 24p to 209p yesterday. It is its lowest rate since September 1998. In 2002 the stock took a battering as it halved an all time high of 440p.
