Universe Group dives after cautious statement on H2 performance

24th Jun 2014 11:49

AIM-listed customer loyalty systems developer Universe Group sent its shares south on Tuesday after Chairman Robert Goddard admitted to doubts about the timing of major contracts. Speaking at the company's annual general meeting, Goddard said Universe's second half performance remained dependent on its ability to secure certain large-scale roll-outs, admitting that the timing of these was "uncertain". Goddard said that its current trading was in line with the previous year, having seen further progress with the establishment of new products into both existing and new customers. "The outturn for the financial year will be weighted towards the second half, and remains dependent on securing certain large-scale roll-outs and while we are confident of securing them, their timing is uncertain," Goddard said at the group's annual general meeting. Shares had fallen 24.08% to 4.65p. NR