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BUZZ-SDL: Down after orders weaken at second largest unit

Tue, 04th Aug 2015 08:47

** Translation software maker SDL falls as much as 6 pct to levels last seen in October, after co points to weakerH1 bookings at its tech unit

** 1.7x times stocks 30 day average volume gone through infirst 90 mins of trade

** H1 bookings fall 6 pct on a constant currency basis atthe unit which accounts for 44 pct of SDL's revenue

** "The fall in bookings is disappointing and this is blamedon "the time it is taking to bed in our new sales force"-suggesting SDL internal problems," Panmure Gorgon analysts say.Brokerage retains "buy" rating, lowers TP to 471p from 496p

** Brokerage says the tale of the half is about thediffering performance across the two lines of business -language services ahead, technology behind

** H1 revenue at largest division, language services, up 4pct. H1 group revenue up 4 pct to 133.9 mln stg (noor.hussain.thomsonreuters.com@reuters.net)


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