LONDON (ShareCast) - Hull-based telecoms group KCOM slumped Friday after warning of “revenue weakness” at its Integration & Managed Services business in what is expected to remain a challenging market.

“Over the first quarter the group has delivered improved profitability at all levels, despite lower revenues than in the same period last year,” said the firm in its AGM statement.

“In light of the deteriorating market conditions, our operational focus on cost and capital efficiency will continue and we are targeting further efficiency gains as the year progresses,” it added.

Efficiency initiatives outlined in November are on track.

KCOM said the Telecoms & Internet Services business is still performing strongly with its high level of recurring service revenues and strong cash flows.

Renovo Group is the second biggest faller. The biopharmaceutical company announced today that, with effect from 1 August, David Blain will become chief financial officer and company secretary replacing Robin Cridland who is joining Revolymer.


FTSE TechMARK - Fallers
KCOM Group (KCOM) 36.75p -6.96%
Renovo Group (RNVO) 46.25p -6.57%
Triad Group (TRD) 15.50p -6.06%
Corin Group (CRG) 140.00p -6.04%
Vernalis (VER) 4.62p -5.71%
Oxford Biomedica (OXB) 9.75p -4.88%
Computacenter (CCC) 121.75p -4.51%
SDL International (SDL) 355.75p -4.37%
BTG (BGC) 194.25p -3.72%
Torotrak (TRK) 19.75p -3.66%

FTSE TechMARK - Risers
NXT (NTX) 14.75p +15.69%
Filtronic (FTC) 75.50p +5.23%
Network Technology (NTY) 42.00p +3.70%
Skyepharma (SKP) 3.10p +3.68%
BATM Advanced (BVC) 52.50p +3.45%
Elan Corporation (ELA) € 20.89 +2.91%
Intec Telecom (ITL) 38.50p +1.99%
Oxford Instruments (OXIG) 225.00p +1.81%
Phoenix IT Group (PNX) 287.00p +1.77%
Fidessa (FDSA) 865.50p +1.23%

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