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Datong

  • BY: Andrew Hore |
  • POSTED: 03/08/2011 |

Three weeks after the departure of its chief executive surveillance technology developer Datong has revealed that revenues and profits will be much lower than expected in the year to September 2011.

Dean Blood stood down as chief executive “by mutual consent” in July. Former chief executive Brian Smith has returned to the role.

Sales in the Rest of the World are rising but longer lead times for orders means they will not be as good as expected. Meanwhile, continental European sales will be lower as further orders for third party products have not come through. Sales of Datong’s own products in the UK and US are still going well.

The shares slumped 10p to 32.5p, which means that Datong is valued at £4.5m. Net cash was £1.57m at the end of March 2011 and Datong hoped to sell its old premises for £375,000 before the end of the current financial year. There was no mention of this potential disposal. 

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