Tangent Communications sees FY'09 profit below mkt view

Feb 3 (Reuters) - Tangent Communications Plc (TATNG.L) warned on Tuesday that profits for the year to Feb. 28, 2009, would be below market expectations on declining sales in Ravensworth, its print business for the property sector.

Shares of Tangent were indicated about 35 percent lower at 2.125 pence at 0840 GMT.

The company said it expected the first half of the year to February 2010 to continue to trend down against the previous year for Ravensworth on a decline in property markets and that it did not forecast improvement for Ravensworth until 2010.

The AIM-listed digital and direct communications company said it would look for acquisition opportunities to "add value" to it.

Its net cash position was 2.7 million pounds ($3.85 million) and it expected to maintain its cash position in the year to February 2010, Tangent said. ($1=.7010 Pound) (Reporting by Austin Lobo in Bangalore; Editing by Tresa Sherin)