Jumpy markets
IBS is a local government software company. Here’s its pre-close trading update from 17th January:
“Revenue, profits and earnings per share showed year on year growth compared with 2006 although slightly short of analysts’ formally published expectations. Operating margin…was broadly similar to the previous year.
The sales growth rate in the second half, which was partly driven by further market share gains was, however, tempered by some tightening in market conditions; these conditions are anticipated to continue into 2008 but the Board also remains confident of further market share gains.”
Not jumping for joy, but nothing to scare the horses, you’d think. In fact, the shares promptly dropped 20%. Ouch.
