LONDON (Alliance News) - Shares in print products company Grafenia PLC were down 16.1% as it issued a profit warning Tuesday that its results for the half-year ended September 30 would be below expectations, with stronger weighting on the second-half.
The company said it had experienced disappointing sales volumes through August, although trading in September had been more in line with expectations. It said that it had made progress with the licensing of its software-as-a-service platforms into other territories. However, it warned that the costs of establishing these software as a service offerings would affect performance.
Grafenia will released its interim results on November 2013. Its shares were trading down 16.1% at 17.00 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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