Financial Objects sees H1 'significantly' behind
Shares in Financial Objects plunged after the financial software solutions provider warned that its first half performance will be 'significantly' behind that recorded in the same period last year and said it is more cautious with regard to the full year.
The group, which serves clients in banking, wealth management and risk management, said it has taken longer than anticipated to bring the sales force headcount up to planned levels during the first half of the year.
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"Whilst the pipeline of opportunities for the company is strong, the financial performance for the full year is dependent on closing one or two significant license deals to make up for the lower than expected performance in the first half of the financial year," said chairman Paul Fullagar.
"As a result, the board is more cautious with regard to the full year performance," he added.
