Shares in PMP Limited
(ASX:PMP) have slipped in morning trade after the printing and marketing group lowered its full 2012 financial year guidance.
PMP says earnings before significant items are now expected to fall 20 per cent from its previous guidance to between $43 million and $47 million.
The company advises print in Australia and New Zealand has been impacted by weak markets, as existing customers reduced activity, and intense competition for new contracts at lower margins.
In the first half of fiscal 2012 PMP expects to deliver earnings before significant items of between $22.5 and $23.5 million.
Shares in PMP were trading 6.25 per cent lower this morning at $0.45.
In the 2011 financial year PMP booked a net loss of $11.3 million.
