LONDON (Alliance News) - Shares in marketing & media consultancy Ebiquity PLC plunged Tuesday as it said profits for the full year will not meet market expectations.
Shares in Ebiquity were down 21% Tuesday at 44.50 pence each.
The company does not expect the proposed sale of its Intel segment - which represents about 22% of the Ebiquity - to Nielsen Holdings PLC to be completed by the UK Competition & Markets Authority until December.
Ebiquity expects this uncertainty to continue to impact revenues and profits in the second half of the year.
In the six months ended June, the company's Media and Analytics & Tech segments - which represent about 78% of the company - grew 7% on a like-for-like basis over the last year.
Ebiquity said, however, the performance from these segments did not offset the poor performance of the Intel segment, leading to total like-for-like sales dropping 9% from the previous year.
Ebiquity (EBQ)