TNG.L Share News (TNG)

Tangent Communications, the provider of online printing and digital marketing, has announced its profits for the six months to 28 August will fall below market expectations.The AIM-listed company said profits will be affected by what it anticipates will be a 20% decline in sales in its agency division, where underlying operating profits are expected to be £450,000 lower than in 2013.Tangent said revenue at its agency arm, Tangent Snowball, were affected by budget cuts from two key clients and, as result, the division has already been downsized as the group seeks to focus resources in its online print businesses.Online sales are forecast to grow by 10% to £8.7m, Tangent said, with particularly strong performances expected by printed.com, one of the group's online branches, where sales are predicted to grow 30% year-on-year to £3.6m.Tangent shares were down 23.24% to 7.10p at 08:03 on Thursday.DC