Eniro shares dive after profits slashed

Shares in yellow pages firm Eniro have dived following revelations of faulty bookkeeping.

The company lowered its expected profits for the year to SEK 700 million, down from 800, writes news ageny TT.

Traders on the Stockholm exchange responded by selling Eniro shares, and the price dived by 27 per cent in just a quarter of an hour.

The head of the Eniro board says to Svenska Dagbladet (SvD) that after thier CEO had to quit in August they took a closer look at their books, because of SVD's reporting on the issue.