News

NWD Group, the marketing services firm, slumped today after warning that first half trading has come in below expectations as a few large clients reduced their spending.

The group added that the cost of its restructuring programme will push it into an estimated loss of around £450,000, though it noted that had the changes already been in place it would have been profitable.

Packaging and security firm API Group also headed into losses on Friday after warning that trading conditions have continued to be mixed.

API said its UK-based Laminates business has continued to be disappointing due to challenging market conditions and weak underlying demand, all of which means full year results will be materially below current expectations.

"We have responded by downsizing the workforce, strengthening the senior management team and taking action to improve productivity. The impact of these changes is likely to take some time to feed through into improved results," said API.

Netb2b2, the AiM-listed software firm, warned today that trading in the fourth quarter had been disappointing after a number of customers unexpectedly put off signing new contracts.

Consequently results for the year will be significantly below market expectations, said Netb2b2, though it added that current trading is recovering following some encouraging new contract wins

Computer networking firm Network Technology announced a slump in profits for the last year but said it has seen a sharp recovery in recent months.

Network Technology reported a pre-tax profit of £23,000 for the year to March compared with £271,000 a year ago, on turnover nearly halved to £1.4m from £2.2m last time.

Chairman and CEO Klaus Bollmann said, "The board has seen encouraging signs of recovery in our markets and the current year promises to be significantly better than the year reported on, with orders 80% up on a month for month comparison."