Ennstone quits US

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The news sparked speculation that Ennstone may now be snapped up by the acquisitions vehicle of Peter Tom, the former boss of Aggregate Industries.

Ennstone, which supplies asphalt and concrete products, said it will miss by a mile its previous profits forecasts of £13 million for the year.

The company is nearly £200 million in debt and fears it might breach its borrowing terms. But it said it has received interest in buying its US business, which accounts for a third of the group.

The shares dived 35% to a new low, off 5½p at 10p.