Shares in Alterian dropped by almost 17 per cent yesterday, closing 32¼p down at 156¼p, after the marketing software group said that it could fall short of full-year expectations.
Alterian, which supplies software to the Government and to the retail and financial services sectors, said that several new business contracts in Britain and Europe had been delayed by the recession. As a result, revenues from the United States and other international markets would need to be higher than anticipated in the fourth quarter in order to fully achieve the City’s full-year forecasts.
Overall, revenues rose 21 per cent for the third quarter and were up 29 per cent for the year to date, with an exceptional performance in the US offsetting weakness elsewhere.
George O’Connor, an analyst with Panmure Gordon, downgraded his earnings estimates but said that the group’s third-quarter growth confirmed his view that there should be greater demand for software in 2010, enabling companies to sell more effectively.
Uniq eased 1p to 30¼p, despite the convenience food group returning to sales growth in the three months to December 26, with new business wins driving a 0.4 per cent rise in revenue. The group, which supplies sandwiches to Marks & Spencer, added that it expected to report an operating profit for 2009 in line with its forecasts.
Advertisement
Brady rose 4½p to 68p after the commodity trading software group said that it would beat market revenue forecasts. Vane Minerals rose 0.62p to 5.38p after the junior miner bought a uranium project in Colorado. Renewable Power & Light fell ¼p to 2½p after Thalassa Holdings, with CityPoint Holdings, disclosed a 29.8 per cent stake in the utilities group.