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  • BY: Andrew Hore |
  • POSTED: 23/08/2012 |

Following the recent departure of chief executive Simon Woodward IPTV technology firm ANT has revealed that full year revenues and profit will be lower than expected.

The shares fell 12% to 16p a share, valuing ANT at 3.89m.

Interim revenues will be higher than the 2.14m reported in the first half of 2011. There was a significant royalty payment in the first half.

However, licence revenues are significantly lower and this has been exacerbated by higher costs relating to a major contract.

There was 4.24m in the bank at the end of 2011 but this will have been reduced by cash flowing out of the business in the first half.

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