Payment and loyalty systems supplier Universe says its 2007 results will be better than last year’s but they won’t be anywhere near as good as expected by the market.
Universe made a first half profit of £447,000 but management says that the second half contribution won’t be as high as that figure. That means that Charles Stanley’s full year profit forecast of £1.3m is much too optimistic. Universe made a small loss before non-recurring costs in 2006 so this year’s outcome will still be a great improvement.
Management blames the slippage of some orders into next year for the shortfall. It has also changed the revenue-share model for its Jet Wash, Air Tower and Vacuum system. This has also deferred revenues into 2008.
The shares were unchanged at 6.875p but they have been weak in recent weeks.
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