Specialist software publisher NetDimensions has dismayed investors by warning 2007’s results will ‘be below current market expectations’.

The company, floated on AIM last May by Teather & Greenwood (now Landsbanki Securities) with a £3 million placing at 62p, has seen its shares plunge 32 per cent to 33.5p today after issuing a cautionary trading statement. NetDimensions, which provides companies and government agencies with software and services for employee training programmes, says some contracts that it had expected to finalise last year have 'slipped into 2008'.

As a result, NetDimensions, which 'significantly increased the size of its sales team' in 2007, does not expect the benefits of the increased expenditure and these contract wins to show through until the 2008 financial year. The company intends to announce its preliminary 2007 figures in March and nevertheless maintains that it still expects to report a profit for last year on revenues 'in excess of US$4 million (£2 million)'.

Chief executive officer Jay Shaw insists NetDimesions, now valued at £8.3 million, is 'in a good position to continue to grow. We have an excellent portfolio of products to offer enterprises globally.’

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