UPDATE 1-Maxima sees FY op profit in line; expects charges

Tue Jul 14, 2009 2:56am EDT
 
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* Says charges likely to result in overall statutory loss

* Shares indicated down 3 pct (Adds details)

July 14 (Reuters) - Software company Maxima Holdings Plc (MXM.L) forecast full-year revenue and operating profit to be in line with market view as trading remained steady, but said it expected some impairment charges due to a review of the intangible assets.

The company said the charges were expected to be mainly non-cash items and were likely to result in an overall statutory loss for the year.

Maxima, which gets more than half of its revenue from recurring managed service and support contracts, said its net debt on May 31 was slightly lower-than-expected at 15.5 million pounds ($25.2 million).

The company's shares were indicated down 2.5 pence at 85 pence by 0656 GMT on Tuesday. They closed at 87.5 pence on Monday on the London Stock Exchange. ($1=.6155 Pound) (Reporting by Purwa Naveen Raman in Bangalore; Editing by Anne Pallivathuckal)

 

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