System1 warns of slower than expected trading
H1 (six months to 30 September 2017 ) trading has been slower than expected and gross profits down because of “non-recurrence of large one-off innovation projects as a result of some significant client spending reductions”.
Profit before tax in H1 is £0.8m, compared with £2.8m in the same period the previous year.
The company said in a statement that it remained “cautious about our prospects over the remainder of the financial year due to our usual lack of revenue visibility”.
It will announce its interim results for H1 on 27th October 2017.
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