Irish distribution group Unidare said results for the second half of the year are unlikely to "differ materially" from the first half.
In March Unidare warned profits for 2001 would fall short of expectations due to the slowing US economy. "Economic conditions in North America continue to be difficult for us and we do not see any signs of improvement for the current year," the group said.
"In the UK, while Eland's warehouse and related IT systems are now operating satisfactorily, it could take the remainder of the year to recover our market position," a company statement said today.
The group posted a first-half - to March 31st - pre-tax profit of euro 1.5 million, compared to euro 5 million a year earlier. Sales were euro 146 million, compared to euro 135 million a year earlier.
Shares in Unidare fell 12 to euro 1.50 this morning, a fall of 7.4 per cent. For the year to date, Unidare has fallen nearly 31 per cent on the ISEQ.