Dorchester can't explain share price fall

Financial solutions firm Dorchester Pacific said it had no insight into why its share price had fallen 13 per cent this week.

This morning the Stock Exchange asked Dorchester to "please explain" why its shares had fallen to $1.00, down 15c since Friday's close.

The shares have dropped 75c or nearly 43 per cent since the start of June.

The company's board replied that it was not aware of any material information affecting the share price that was not already in the market.

In May, Dorchester reported a drop in annual net profit to $3.06 million, down from $8.15 million in 2006.

Shares in Dorchester Pacific ended the day up a cent to $1.01.