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French IT services company, Altran Technologies SA, has announced that it will be unable to meet its profit margin expectations for the first half of 2004, and that its target for the second half may have to be changed. Investors punished the company by sending its shares down by over a third on the Paris Bourse.
The Paris-based company made sales of 355.0 million euros in the three months to the end of June 2004, up nearly 6% on the year ago figure. Its operating margin for the first half of the year is now expected to be 4%, and it admitted that it may fail to make its target of reaching double digit growth in earnings before interest and taxes during the second half.
