Warning from Promethean World as orders slip into 2015

EDUCATION technology provider Promethean World has warned that full-year sales and earnings will fall below expectations.

The Blackburn group, which specialises in interactive white boards for schools, has seen orders pick up in US and other overseas markets, but some of these deals will not complete before the year end.

As a consequence revenues will be lower than expected at round £118m-£120m, and this will have an impact on earnings, said the company.

The company said: “Whilst seeing a stronger order pipeline building for the International region and also expecting to trade well in North America in the fourth quarter, there was an inherent risk on timing of orders around the year end.

The company said: “It is now evident that certain larger contracts, that have been under negotiation for a period of time and that were originally anticipated to ship in the fourth quarter of 2014, are now expected to ship in the first quarter of 2015.

“We therefore anticipate that revenue for the year will be below expectations at approximately £118m – £120m, with a consequential impact on adjusted EBITDA (earnings before interest, tax, depreciation and amortisation).”