Microgen drops on contract delays

Administration software firm Microgen saw its shares lose seven per cent of their value after it said a number of deals in the financial sector were taking longer to complete than expected.

Administration software firm Microgen saw its shares lose seven per cent of their value after it said a number of deals in the financial sector were taking longer to complete than expected.

This meant revenues in the second six months of 2012 were now expected to be around 10% lower than the first half of the year.

"Opportunities [in the Financial Systems Division] continue to progress although, due to the market environment, particularly within the financial services sector, a number of these have advanced more slowly than anticipated," the firm said.

However, it added that due to the group's "conservative operational approach", earnings for the second half were expected to be consistent with the first part of the year.

Microgen said there had been no significant changes since 1st July in its financial position and its balance sheet remained strong.

Following payment of the interim dividend of £0.9m in August, the group had net cash of £26.3m at the end of Ocbtober, compared to £27.1m at the end of June

Recommended

Share tips of the week - 12 August
Share tips

Share tips of the week - 12 August

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
12 Aug 2022
Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022

Most Popular

UK House Prices Set To Fall? It’s Not So Simple
House prices

UK House Prices Set To Fall? It’s Not So Simple

Figures suggest UK house prices are starting to slide, but we shouldn’t take these numbers at face value, explains Rupert Hargreaves.
11 Aug 2022
Three solar stocks to invest in
Renewables

Three solar stocks to invest in

This week, professional investor Nicholas Mersch of the HANetfS&P Global Clean Energy Select HANzero UCITS ETF tells us three solar stocks to invest i…
12 Aug 2022
Is gold cheap relative to equities?
Gold price

Is gold cheap relative to equities?

Dominic Frisby looks at the Dow-gold ratio and explains why gold is starting to appear inexpensive compared to equities.
12 Aug 2022