BOND INTERNATIONAL: Disappointing trading update and the share price takes big hit
The specialist provider of software for the international recruitment and human resources industries, issued a disappointing trading update for the year ended 31 December 2009.
Since the announcement of its interim statement in September, the group has seen a deterioration in trading conditions in some of the markets in which it operates. There has been a decrease in order intake from existing clients and a number of key contracts which the group had expected to sign in 2009 have been deferred. In addition, a number of major implementations in progress have been delayed or elongated as a result of the changing circumstances for the group’s clients. The faster than expected change in the business model from capital sale to rental and Software as a Service…