By editorial@silicon.com, 24 November 2000 13:08
NEWS The fall in FTSE 100 listed Sema dragged down other stocks, such as Logica, Sage and CMG. Shares in the company fell from 620p to 349p within the first hour of trading, after it said profits for the current year will fall short of forecasts. London's technology stock index, the Techmark 100, was down 149.7 points to 2,694.8. The company reported that while turnover is up, profits will be at last year's levels, due to losses on the recently acquired German software company LHS. The company also blames a shortfall in outsourcing contracts, where revenues will be 10 per cent below last year. The company said delays in integrating LHS into Sema, for regulatory reasons, saw a loss of confidence in the company and a collapse in earnings. However, Sema said it expects revenues to soon return to pre-acquisition levels, improving the fortunes of the group. Sema says it is now looking at revenue growth of 12 per cent in 2001. By Geoffrey Davies
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