Adventis's healthcare woes hit profits

10th May 2011 13:53

Shares in Adventis plummeted on Tuesday after the marketing and advertising firm revealed that it expects to report a loss for the year ended 31 December, as a further downturn in trading at its health division has offset growth in technology, media and property.Adventis announced on 27 January that full-year pre-tax profit (excluding exceptional items and goodwill impairment) would be around £0.45m, under half of what it was the year before (£1.25m).However, "It is now apparent that the loss generated in the health division together with various other adjustments will impact adversely on the group's consolidated results for 2010," the statement said. As a result, the group said it expects to incur a "small loss" for the full year (on a pre-tax basis, excluding exceptional items and goodwill impairment)."There is also likely to be a significant goodwill write down attributable to the downturn of the health division."---BC