LONDON (Thomson Financial) - Tangent Communications Plc. said it is planning
for a further decline in the residential property market which would mean
profits coming in below current expectations, after it revealed a 22 percent
fall in estate agent revenue in the period to the end of June.
In an AGM statement, the company added that it currently sees a small
increase in group revenue and profits, in line with budget.
The company, which creates web marketing systems, said the decline in estate
agent revenue was offset by growth in other parts of Tangent at both the revenue
and profit level and that it expects growth in parts of the business to continue
despite the challenges in its property market operations.
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