Shares in Alternative Networks (AN.) tumbled more than a tenth after the directors of the managed IT services group warned that full-year adjusted cash profit would likely be "somewhat below" their expectations. They blamed business uncertainty following the EU referendum, which weighed on trading in the advanced solutions division.
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More positively, management reported a rebound in new business in August and September. Broker finnCap trimmed its forecasts to adjusted pre-tax profit of 14.5m for the year to 30 September, giving EPS of 24.4p, down from £17.9m and 27.8p in 2015.
