Future looks bleak for Energis

Profits warning looms for telecoms group...

Energis is expected to announce on Thursday that interim profits are on target, but will warn that revenues for the remainder of the fiscal year up until March are likely to fall. Investors' worst fears are likely to be confirmed in a trading statement to be released on Thursday, the Sunday Business reports. The news is likely to send Energis shares into freefall, as was the case when the company released its last trading statement. Shares fell 20 per cent in July when the company warned that first half earnings might be weaker than originally anticipated. Energis has already set up a cost control programme by freezing the hiring of new staff. Energis shares were down nearly nine per cent to 44p from 48.25p on close of trading on Friday.