Blur Group blames deal delays for profit warning

19th Nov 2014 14:57

International e-commerce company Blur Group blamed contract delays for an annual profit warning, hitting its shares.The stock slid 12.5p or 17.1% to 60.5p at 15:24 in London after Blur said a small number of large projects would not begin until early next year, affecting 2014 revenue and profits.Blur said it was pleased with progress otherwise, with most bookings in the fourth quarter so far coming from major brands such as Amazon, Tesco and Argos."The business is currently in line with management expectations in respect of new project bookings, ahead of plan for new and repeat enterprise projects, and ahead of its plan on costs due to the adoption of the Blur 4.0 platform by Enterprise customers," Blur said.