Shares of aim listed outsourcing software developer ServicePower Technologies sank 22 per cent after it warned it will not achieve market forecasts for the year ending December 31st 2012.
The warning comes after 'protracted negotiations in several significant contracts' in the wake of client restructuring.
As a result, the group expects to make a loss for the year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The board expects the contract negotiations to be concluded in the early part of 2013 and will update investors in January on progress and provide a more detailed update on trading at that point," it said.
-
SIPP holders to get cash warnings and be offered default fundsNews Providers will be required to offer investors a default fund and must warn customers of the inflationary risk of cash savings the regulator has said. What the new rules mean for your retirement pot?
-
Zoopla: Asking price discounts hit a five-year high – is now the time to buy a property?
News Zoopla’s October House Price Index shows sellers are accepting discounts of 5.5% on average to secure a sale – we reveal where homeowners are taking the biggest asking price cuts
