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Date: Tuesday 07 Oct 2008

LONDON (ShareCast) - Weak trading in the US and Asia mean that Kewill’s pre-tax profits in the second half will be lower than those of the first six months of the year, the logistics software company warned.

“While the company has seen strong growth in Europe, this has been more than offset by weaker revenue performance in the US and Asia where Kewill signed several large projects in the first half of the previous financial year,” Kewill said.

“We have also seen some lengthening of sales cycles as deal sizes have grown and as economic factors have resulted in greater diligence and delays in approvals on the part of our customers.”

While revenues will be marginally up from the first half, pre-tax profits will fall slightly, Kewill said.

The company expects adjusted profits before tax for the full year to be in line with current market expectations, with revenue slightly lower than planned.

Last year, Kewill reported pre-tax profit of £1.95m from £1.13m previously on revenue that increased 22% to £1.95m.

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