LONDON (Alliance News) - Oleeo PLC said on Tuesday interim profit fell on employment costs as it warned on an uncertain outlook "for the foreseeable future".
Shares in the recruiting software firm were down 11% at 160.00 pence on Tuesday.
Revenue for the six months to January 31 was GBP5.1 million, broadly in line with that achieved a year ago. Pretax profit, meanwhile, slipped to GBP234,613 from GBP394,622.
This was as administrative expenses rose by GBP270,000 to GBP4.9 million, principally due to employment costs.
While Oleeo said it expects to see "some improvement" in second-half sales, these will come with an increase in costs as the company invests in "product enhancement".
"A competitive market place, known reductions in client subscriptions, and economic uncertainty provide continued pressure on sales and profits and a highly challenging and uncertain outlook for the foreseeable future," Oleeo said.