Thursday, 01 December 2005 16:14

Volante shares trashed again

By

Shares in box mover and IT services company, Volante Group (ASX:VGL), were trashed again yesterday diving to a new 12 month low.

Yesterday's closing share price of 81.5c, a drop of 3.5c in a day of heavy selling, takes Volante's market valuation to less than half of what the company was worth in January this year, when shares were at $1.70.

The downward slide was triggered late last month when the company issued a profit warning for the half ended 31 December 2005. Bottom learning earnings are expected to be down by up to 39% for the half due to slow box sales. Volante is moving the focus of the company to services.


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Stan Beer

Stan Beer assists with Digital Advertising installation and monitoring of advert performance. With 35 plus years of experience working in IT and Australian technology media, Beer has published articles in most of the IT publications that have mattered, including the AFR, The Australian, SMH, The Age, as well as a multitude of trade publications. Any previous news story submissions should be director to editor@itwire.com and advertising enquires to andrew.matler@itwire.com

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