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Media Square
- BY: Andrew Hore |
- POSTED: 04/09/2007 |
Marketing services provider Media Square has published another profit warning.
Profit warnings seem a regular occurrence for Media Square in the past year. The latest knocked around one-quarter off its market value. Management blamed poor trading at some of its subsidiaries this summer for the fact that this years earnings will be “materially below market expectations”.
There appears to be a mixture of delays and more deep seated problems. Cost cutting is being undertaken.
Recently appointed chairman Roger Parry promises to announce the result of his strategic review, along with the interim figures to August 2007, on 13 November. That review will lead to restructuring costs.
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