IT and datacentre services provider Teliti international Ltd says that its new datacentre will not be operational by July and this will lead to forecast downgrades.
The share price fell 12.5p to 42p a share, which values Teliti at £9.87m. earlier this month, Teliti raised £1m at 57p a share.
The datacentre should be completed in July but it will not be operational until the final quarter of 2012 – the first quarter of Teliti’s next financial year. Pre-tax profit for the year to September 2012 will be less than half of the previous forecast of RM13.8m.
Teliti blames late payments by the debt provider to the contractor. So far RM75.5m has been drawn down out of the facility of RM111m and discussions continue about the release of the rest of the debt.
Teliti is on the way to signing up customers for 44% of the initial 45,000 sq ft of rental space.
Interim figures will be published on 29 July.
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