Investors sent shares in language translation and content management specialist SDL (SDL) down 4 per cent after management revealed it would focus on helping brands to manage, translate and deliver localised content rather than improve their customers' experiences. The group - which counts Nike, Dell and Tesla among its clients - posted significant statutory losses in 2015. But exclude £46m in impairment, restructuring and other one-off costs and operating profits leapt 23 per cent to £20.7m.
Interim boss David Clayton plans to sell three peripheral businesses that account for about a tenth of total turnover. He also intends to funnel cost savings into retaining major customers and capitalising on the group's technology, in-house translators and strong brands such as Trados.