Ubizen shares down as operating losses rise

Belgian security software developer Ubizen saw shares fall today, reflecting investor disappointment with higher-than-expected losses for fiscal 2000.

The firm reported stronger-than-expected sales growth, but a Q4 operating loss of E5.5m (£3.29m), compared to E2.8m (£1.67m) for the same period last year, eroded share price and investor confidence within the fragile market. Ubizens share price currently stands at E17 (£10.15), far short of the high of E57 (£34.05) recorded early this year.