Shares in Rentokil Initial took a fresh battering after new figures showed its City Link delivery arm remained deep in the red.
The support services firm has promised further action to revive the ailing business but warned City Link faced another year of financial pain.
Seymour Pierce stockbrokers added that overall results from Rentokil, showing a 15% rise in annual profits, were also slightly below expectations as the FTSE 250 Index stock saw its shares fall 8% or 7.9p to 90.1p.
In the top flight, the FTSE 100 Index was treading water, 12.6 points lower at 6074.8, as investors reflected on a decent week for the market.
Severn Trent and United Utilities were at the top of the risers board – up 23.5p to 1477.5p and 10p to 597.5p – after Goldman Sachs upgraded stocks in the sector.
BAE Systems was the biggest faller for a second session in a row as investors digested Thursday’s warning that its sales were likely to fall this year due to ongoing defence budget cuts on both sides of the Atlantic. Shares were down 5.75p to 335.15p.
Meanwhile, Go-Ahead shares jumped 5% or 67.5p to 1383.5p in the FTSE 250 Index after the bus and rail operator reported an 8% rise in half-year profits and said annual profits were likely to be higher than previously anticipated.
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