The British electrical appliance maker, Kenwood, in which Glen Dimplex has a 3.6 per cent stake, has shocked the market once again by announcing it will slide into a loss in the second half of its financial year in the six months to April 2nd. Kenwood expects it will just break even over the full year before tax but sizeable exceptional costs will send the final bottom line into the red.

Glen Dimplex bought into Kenwood last August, leading to speculation that the Irish group might be lining up a bid for Kenwood.