Expansys warns on profits for 2013, launches strategic review

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

Written by Mobile Today
Mobile Today

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