ANT profit warning sees 12% share drop
August 24, 2012
London listed digital television software developer ANT has warned that revenue and profit for 2012 will fall short of market expectations, sparking a sell-of in shares that saw the company’s price drop 11.7 per cent.
A trading update from the Cambridge-based company, which recently announced the departure of its CEO Simon Woodward, said that revenue for the first half of 2012 will exceed that of the first half of 2011 due to a significant royalty payment.
However, a significant engineering cost associated for the year together with a significant fall in licence bookings over the previous year meant the full year’s figures would be below market expectations.