Admiral Share Values Seem to Be Confused ; FINANCIAL SERVICES

Motor insurer Admiral Group (ADM) saw its shares tumble yesterday after warning that competitive pressures had continued to weigh on its price comparison website confused.com. The group said it expected at least to meet forecasts of a 9.9 per cent rise in profit this year, but said margins at confused.com remained under pressure, with turnover from the website over the first nine months of 2008 in line with the same period last year. Confused.com, which accounted for 20 per cent of group profit in 2007, has been hit by growing competition from new entrants to the price comparison market.....

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