TechMARK movers: Parity sees weaker first half
Shares in Parity slumped as the IT training and services group warned that a weak first quarter and £500,000 of one-off charges will result in a weaker than expected first half.
The current trading outlook for the year is below management's previous expectations and will be significantly weighted towards the second half, it added.
Business transformation consultancy firm Axon said its Axon Solutions unit has bought EnterSys, a leading provider of SAP consulting services to the oil, gas & chemical sector in North America, for an initial consideration of $7.5m in cash.
In addition, deferred cash consideration payments of $7.5m will be paid over the course of the next twelve months with up to $10m payable in cash based on the group's future business performance.
"Axon is already the largest independent SAP consultancy in the world, and we have driven significant growth in the Americas by leveraging our deep expertise in the Aerospace & Defence, Utilities, Transportation and Public Sector markets," said chief executive Steve Cardell.
FTSE TechMARK - Fallers
Parity Group (PTY) 33.50p -14.10%
Morse (MOR) 52.00p -7.14%
NXT (NTX) 9.25p -3.95%
Corin Group (CRG) 463.00p -3.24%
Alphameric (ALM) 17.50p -2.78%
ProStrakan (PSK) 53.50p -1.83%
ServicePower (SVR) 14.75p -1.67%
Protherics (PTI) 48.00p -1.54%
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Axis-Shield (ASD) 289.50p -1.53%
Wolfson Microelectronics (WLF) 138.75p -1.07%
FTSE TechMARK - Risers
Torotrak (TRK) 25.00p +12.36%
Vtech (VTH) 282.50p +7.62%
Elan (ELA) € 18.00 +6.95%
Axon Group (AXO) 477.75p +5.81%
ClinPhone (CNP) 97.00p +4.86%
Sepura (SEPU) 95.50p +4.66%
Anite Group (AIE) 52.00p +4.52%
Antisoma (ASM) 29.25p +4.46%
Optos (OPTS) 169.00p +4.32%
AEA Technology (AAT) 70.00p +4.09%
