LONDON (Alliance News) - Online printing and digital marketing company Tangent Communications PLC said Tuesday that it expects its full-year outcome to be below expectation, as it has lowered its forecasts for the remainder of the year due to an anticipated under-performance by its Tangent Snowball business.
Tangent Snowball has not developed a pipeline of new business, and management expects profits from Tangent Snowball to be around GBP500,000 below expectation, it said in a statement ahead of its annual general meeting.
As a result Steve Grout, chief executive of Tangent Snowball, has been dismissed, and Tangent Chief Executive Tim Green has taken over day-to-day responsibility for the digital marketing business.
Trading for the company as a whole was in line with expectations for the first quarter to end-May, the company said, with its print business performing in line with budget. The rationalisation of the company's print business is continuing, the company said.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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