Shares in communications services provider Communisis (CMS) fell after management announced the group's full-year results would be below market expectations, due to a disappointing performance from a recent acquisition. Shopper marketing agency Life is taking longer than expected to contribute its expected earnings, as clients have cut their spending and phasing of new business.
Despite this, management expects to deliver double-digit adjusted operating profit growth, increased adjusted earnings per share and improved free cash flow. In its third-quarter trading update, Communisis announced its deploy business - which provides multichannel marketing services - has won contracts with three large European clients in the consumer goods and electronics sectors during the period.
