Talent management business Work Group has put out a cautious trading statement which has led to a forecast downgrade from house broker Merchant Securities.
The share price fell 1.75p to 11.5p, which values Work at £3.21m.
Work says that the recruitment services market has been challenging with weak business confidence delaying investment decisions. Net fee income was 4% lower at £6.2m at the interim stage. There should be a small operating profit.
Net cash was more than £500,000 at the end of June 2012.
Interim figures will be published on 18 September.
Merchant has reduced its full year net fee income forecast from £14.4m to £13.2m, while the pre-tax profit forecast has been cut from £1.1m to £900,000 – still nearly double the 2011 profit.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2012_34.pdf
© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
AIM adviser XCAP Securities has appointed Guy Peters as head of corporate.
Alexander David Securities Group is selling the eponymous broking operations to its management and turning itself into a shell.
Natural pesticides developer Eden Research says that the EU has approved the three main active ingredients in its main product.
Increased sales of LED lighting products has boosted revenues at Advanced Power Components (APC) but the profit benefits are only starting to show through.