Networking marketing solutions provider Endace has said that revenue for the year ended March 31st is expected to miss market expectations by around 10 per cent due to slow decision-making by a number of clients.
Despite reporting an "excellent" performance in the first half, the company said that budget restraints, particularly in the UK government customer base, have resulted in a shortfall of expected purchases.
Endace forecasts a pre-tax profit of $1m after adjusted for share options and a year-end cash balance of $4m.
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
"Looking forward, whilst the board notes the continuing uncertain economic outlook, it remains confident in the prospects for the business given the technological leadership in its chosen markets, the strength of the pipeline, the continued growth in annuity income, and its expanding Enterprise customer base," the statement said.
BC
-
Side hustle tax changes: HMRC reforms could save thousands from filing self-assessment tax returnsThe government plans to raise the tax-free threshold for trading income – here is how it could help your side hustle
-
Return to the office: is working from home coming to an end?More and more employers want their staff to return to the office. Is it a good idea?
