Post production and events company Cheerful Scout says that the loss of a telecoms commission means that it will report lower than expected results for the year to June 2011.
Cheerful Scout has had to cope with cuts to public spending and it was anticipating a rise in gross margins in the second half.
Revenues grew from £737,000 to £986,000 in the six months to December 2010 but the reported loss jumped from £22,000 to £85,000. Net cash was £682,000.
At 8.88p a share, Cheerful Scout is valued at £700,000. Net tangible assets were £859,000 at the end of 2010.
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