RED.L Share News (RED)

IT and telecoms group Redstone said trading since the second half has been slightly below expectations after cost reduction measures took longer than expected to implement and as market conditions remain extremely challenging.EBITDA for the year ended 31 March 2009 is expected to be between £7.5m and £8.0m the group said in today's trading update amid continued weakness in its markets.However, as a result of management changes and additional cost reduction measures, the board expects trading in the second half of the year ending March 2010 to be similar to the first half of the year ended March 2009, it added.Commenting in Thursday's company statement chairman Alan Coppin said, "We have... experienced weakness in overall trading conditions as a result of the current economic downturn. However the board believes the actions it is taking will ensure the group...is well positioned to take advantage of improved trading conditions as and when they arise."