3/21/2013 10:17:44 AM
Expansys warns on profits for 2013, launches strategic review
Online retailer Expansys has fired off a profit warning for its current financial year and launched a strategic review of the business.
The review is not envisaged to result in the retailer being sold. In a statement this morning, Expansys said the review should 'accelerate its objective of becoming an end-to-end solutions provider to MNOs, MVNOs and OEMs'.
It did not give a reason for its anticipated poor performance for the year ending 30 April 2013 but said it expects profits to be 'substantially below' its forecast.
It added: 'The group has completed the cost savings forecast in the retail business and we will enter the next financial year with a lower cost base and an appropriate structure to support growth.'
Author: Graeme Neill