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Adventis

  • BY: Andrew Hore |
  • POSTED: 27/01/2011 |

PR and marketing services provider Adventis has been hit by a severe downturn in its healthcare division and it is investigating why the problems were not apparent until now.

The share price dropped 2.5p to 4.75p, which values Adventis at £2.3m.

The healthcare business will lose around £260,000 for the full year as contracts were delayed or did not materialise. KPMG will investigate controls and what has happened in the past year.

Elsewhere, Adventis did well. The technology and telecoms division grew and the media planning and property divisions both recovered.

Adventis expects to report a pre-exceptional profit of £450,000 for 2010, which is less than one-half of the £980,000 profit forecast by Arbuthnot. That does not include a significant goodwill write-off which will be announced with the figures.

Finance director Peter Linnell resigned in November but he was working his six months notice.

Download the January edition of AIM Journal at http://www.hubinvest.com/AIMPDFJanuary2011_16.pdf

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