The translation software specialist SDL was forced to issue a profits warning yesterday after downgrading its forecasts for the year.
The company – which parted company with chief executive John Hunter earlier this month – warned that full-year figures could be £4m short of expectations, at about £36m.
The interim chief executive, Mark Lancaster, said poor sales and marketing would hit profits. His review of the business has led to revised costs for certain contracts.
The news hit the firm's shares hard, and they closed more than 14 per cent lower last night.
- More about: