ADvTECH forecasts lower profits

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ADvTECH (ADH) advised on Friday that earnings per share and headline earnings per share for the interim period ended June 2012 are expected to be between 15% and 19% lower than for the prior comparative period.

It said in an updated trading statement that the decline in the tertiary division´s operating performance had affected the group´s results more significantly than initially expected.

It added that further to the previous voluntary trading statement released in May‚ the pleasing enrolments achieved in the schools division and encouraging progress in the resourcing division‚ which was expected to result in both divisions achieving good operating performances.

“However‚ the lower enrolments achieved in the tertiary division have had a more significant impact on operating performance than had been estimated at the time of the previous trading statement. Steps continue to be taken to minimise the impact of the lower enrolments and to restore the division´s operating performance‚” it said.

The company expects to release its results on or about August 27. - I-Net Bridge

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