Top 3 Losing Companies of the Week

Submitted by Jim Thesiger on 29 May, 2010 - 23:49

Ausenco (AAX), a renowned company that operates in the engineering and project management facilities at a global; scale to the minerals processing and mining industries was the worst performing company in the ASX200 list for the week. The company had a market capitalisation of $286.3 million and lost 30.4 percent to its stock price and was closed for the week at $2.34. Its stocks were traded at $3.36 during the last week. For this week, it was a mixture of project management, airlines, services and television subscription based companies in the list of worst performing stocks of the Australian Stock Exchange: Ausenco (AAX), Virgin Blue Holdings (VBA), Cabcharge Australia Limited (CAB), Austar United Communications Limited (AUN), Spotless Group (SPT). Virgin Blue Holdings (VBA) which offers airline travel services with a focus on Australia was the second worst performer in ASX200 losing 28.7 percent and closing the week at 31 cents (market capitalisation $684.8 million). Last week the shares closed trading at 44 cents. It was followed by Cabcharge Australia Limited (CAB), an Australian based company that is involved in the business of offering taxi charge account service businesses and other related services in the country. The company saw a 5.8 percent drop to its stock price and was closed for the week at $5.22 (market capitalisation $628.7 million). Stocks of this company were traded at $5.54 during the last week. Next in the line was Austar United Communications Limited (AUN), an Australia based subscription television services provider with more than 600,000 customers in the rural and regional area of Australia. The company lost 5.7 percent to its stock price and was closed for the week at 99 cents (market capitalisation $1241.0 million). These stocks were traded at $1.05 during the earlier week. The fifth place was taken by Spotless Group (SPT), a company that offers a variety of services and products to business, education, industry, healthcare, resources, and government-based customers in Australia and New Zealand with a loss of 5.5 percent to its stock price and was closed for the week at $2.22 (market capitalisation $575.7 million). The company stocks were traded at $2.35 during the last week.

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