17th Nov 2015 08:49
LONDON (Alliance News) - Mobile marketing company CDialogues PLC on Tuesday said its revenue in the third quarter was hit by weaker performances from certain projects, leaving it set to deliver full-year results below market expectations.
The company said its revenue in the quarter to the end of September was weaker than in the first two quarters of 2015, while monthly revenue in October and November has been broadly flat on the lower September numbers. These trends are likely to continue until the end of 2015, the company said.
In addition, delays in its new business pipeline have led to certain product launches due to take place in the fourth quarter being pushed to 2016, despite CDiaglogues already having booked costs related to some of these projects.
Thanks to these conditions, the company now expects its 2015 earnings before interest, taxation, depreciation and amortisation will be "materially" lower than current market expectations, as revenue also misses the market view.
The group also is reviewing its 2016 forecasts, which are likely to come out lower than market expectations too.
CDialogues shares were down 51% on the news to 84.98 pence, the worst performer in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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