LONDON (Alliance News) - Grafenia PLC said Thursday it expects its pretax profit for its current year to be slightly below the bottom end of current market estimates, although ahead of the previous year, due to softer trading in its domestic Printing.com channel and weakening of the euro against sterling.
In the previous year to end-March 2014, the company posted a pretax profit of GBP755,000. Consensus forecasts provided by Morningstar show analysts expect the company to post a pretax profit for the current year ending in March of GBP950,000.
The company said it believes it will meet its objectives of having 25 studio locations for its Nettl business and GBP1 million revenue in its trade division MarqetSpace.
Shares in Grafenia are trading down 4.4% at 16.50 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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