Endace to miss its profit target

ENDACE, a network monitoring solutions group, warned yesterday that its revenues for the year to the end of this March would be 10 per cent short of expectations.

The group blamed economic uncertainty and slow decision-making by a number of clients. It said that limited budgets, especially in the UK government customer base, had resulted in a shortfall of expected orders.

It said that pre-tax profits after adjusting for share options would come in at around $1m (£630,000).

Earlier this year the board appointed Deutsche Bank to review its options.