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  • BY: Andrew Hore |
  • POSTED: 12/12/2008 |

Marketing and consumer relationship software provider smartFOCUS says contract and project delays will lead to disappointing 2008 results.

The company is moving to a Software as a Service model and this has a negative short-term effect on revenues.

A full year operating loss of £1.3m on revenues of £10.3m is forecast.

Annual expenses will be cut by £1.4m in 2009. That will lead to a one-off charge of £600,000 in 2008.

A profit of £151,000 was turned into a loss of £649,000 in the six months to June 2008 and there was cash of £1.1m on the balance sheet. This will provide the working capital the company will need.

The shares fell 1.75p to 4.25p each, which values smartFOCUS at £3.99m.

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