Stordata publishes profits warnings

But it's not all bad news

Stordata Solutions plc has said operating profits have fallen behind budget at its subsidiary Primary Storage and that this is likely to affect its contribution to the division in the six months to 30 November. The storage distie is blaming the profits warning on a slowdown in trading during the summer. A new pricing policy, which took effect in October, is set to reduce margins, the company warned. However, chief executive Simon Hunt did confirm that its subsidiary Primary Network Products is trading at expected despite a slow start and that he was pleased with the development of Mosaic Systems. The company is also close to buying a networking solutions reseller, he revealed, Several candidates arelined up for the vacant position of managing director after Martin Southern left the group last week, according to Hunt. Stordata will announce its results for the year ending 30 November next February. ®

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