Profit warning for ServicePower
FIELD management software specialist ServicePower Technologies has warned it will not hit market forecasts this year and expects to post a loss.
In a brief statement the AIM-listed Stockport-based group said this was down to “client organisational restructuring” and resulting protracted negotiations on several significant contracts.
“The company will not achieve market forecasts for the year ending December 31, 2012. Accordingly, the company expects to make a loss for the year,” it said.
“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.”
Last year the firm reported an 83% rise in profits to £1.1m on sales of £13.3m, down 27%.
