STOCK WATCH

FLOWGROUP floundered as it warned its margins were under pressure as it competes with new rivals.

The firm, which is involved in energy supply and services, said it was investigating ways of reducing its reliance on price comparison websites to win business. New suppliers are offering cheaper tariffs to attract customers, which could make the outlook for 2017 more challenging if it continues.

But the AIM-listed company said results for 2016 should be in line with expectations. Shares plunged 16.3pc, or 1p, to 5.1p.