News

TechMARK movers: Parity hit by profit warning

04 November 2008 13:03:00

IT staffing group Parity said it expects pre-tax profit before exceptionals will be lower than current market expectations.

The group said since its interim results in August, it has seen conditions deteriorate with buying cycles continuing to lengthen and overall client spending tightening.

"We expect this difficult trading environment to continue well into 2009," it said.

It predicts second half revenues will be flat compared to the first half. However, the group said margins in each business unit have been improving through the year, due to both higher selling margins and the cost reductions it has made.

Logistics software supplier Kewill warned full year revenue will be slightly lower than planned as large projects were not repeated.

The group made the comments as it revealed pre-tax profits for the six months to September slide to £372,000 from £726,000 on revenue that was slightly above flat at £24.5m.

Despite strong sales activity, it has seen "some slippage" in deal closures over the past three months in line with a slowing global economy and increased caution from buyers.
FTSE TechMARK - Fallers
Parity Group (PTY) 6.50p -27.78%
Sinclair Pharma (SPH) 18.00p -13.25%
Oxford Biomedica (OXB) 6.52p -10.07%
Kewill (KWL) 48.50p -3.96%
Elan Corporation (ELA) € 5.84 -3.63%
ProStrakan (PSK) 87.00p -2.79%
Antisoma (ASM) 18.00p -2.70%
Electronic Data Processing (EDP) 54.00p -2.70%
Morse (MOR) 19.00p -2.56%
Wolfson Microelectronics (WLF) 87.00p -2.25%

FTSE TechMARK - Risers
Turbo Power Systems (TPS) 0.42p +13.33%
GB Group (GBG) 22.75p +12.35%
Phytopharm (PYM) 12.00p +9.09%
Trafficmaster (TFC) 12.00p +9.09%
Alphameric (ALM) 19.75p +8.22%
Filtronic (FTC) 37.50p +7.91%
Alizyme (AZM) 15.50p +5.08%
Renovo Group (RNVO) 26.75p +4.90%
Gresham Computing (GHT) 59.50p +4.39%
Fidessa (FDSA) 579.00p +3.39%

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