Anglo-Dutch IT consultancy CMG saw its shares fall dramatically this morning following the announcement that its telecom products division will report a loss for the first half of the year.
By Mark Graham, 19 April 2001 10:58
NEWS Shares fell 22 per cent - or 98p - to 345p following the news which also dragged down rival Logica, which also saw its shares fall 12 per cent. CMG's wireless unit, which provides software for SMS services, is expected to post an operating loss of £30m. In a statement the company said the economic downturn in the US has impacted upon its European business but it is still hopeful that profit margins in the UK, Germany and France will improve.
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