I suspect the share price drop is more to do with the future rather than the past (generally the case). PM's last line in his statement about lower profits for this FY probably started the fall (in addition to uncertainty about oil prices, state of the economy in the North, uptake of hols during the world cup etc - as evidenced by the plethora of e mails advertising sales of seats I have received from the 3 main operators from LBA).
Fowler Welch:-
meant that operating profits reduced 23% to £3.6m (2013: £4.7m)
Distribution is extremely competitive and the reduction in profits here will not have helped the share price. It will no doubt recover