Marconi investors braced for profits warning

End not in sight, apparently...

Marconi is expected to issue a profits warning tomorrow after seeing its sales plunge by around a third in its third quarter. Analysts predict the telecom equipment manufacturer's sales may have fallen to around £740m for the three-month period ending 31 December, compared to sales of around £1.1bn for the same period last year. Sales for the fourth quarter are also expected to take a dive. Marconi CEO Mike Parton is expected to announce that the company's debt restructuring programme is on schedule after it offloaded a number of its divisions.