Pinnacle Staffing says that its full year operating profits will be significantly below earlier expectations.
Pinnacle provides temporary and permanent healthcare staff. The erosion of the pay differentials between temporary and permanent NHS staff has reduced the availability of temporary staff.
Interim figures will be published near the end of September and management says that these should be in line with expectations. Second half growth will be slower than forecast. Brewin Dolphin was forecasting pre-tax profits of £500,000 for the year to 4 January 2009.
The shares reached a high of 12.125p in 2007. They fell 0.5p to 2p on the latest trading statement, which values Pinnacle at £1.75m.
Pinnacle was demerged from Nestor Healthcare on 5 September 2006.
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