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Parity Resources warns on full year outlook

Parity Resources (AIM: PTY), the IT recruitment, consultancy and training company, fell to a new all time low after warning that trading in the first quarter of 2008 was below expectations.

Parity did its best to make a mildly disappointing update sound positive, but investor's headed for the exit after the company said it would take a £0.5 million hit on non-recurring costs and pinned its hopes on a strong recovery in profitability in the second quarter to make up for the weak start in the first quarter.

Overall, Parity said it now expected the results for the full year to come in below management's expectations, with a heavy emphasis on trading in the second half.

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Parity Resources (AIM: PTY), the IT recruitment, consultancy and training company, fell to a new all time low after warning that trading in the first quarter of 2008 was below expectations.

Parity did its best to make a mildly disappointing update sound positive, but investor's headed for the exit after the company said it would take a £0.5 million hit on non-recurring costs and pinned its hopes on a strong recovery in profitability in the second quarter to make up for the weak start in the first quarter.

Overall, Parity said it now expected the results for the full year to come in below management's expectations, with a heavy emphasis on trading in the second half.

Quick facts: Parity Group PLC

Price: 7.875 GBX

LSE:PTY
Market: LSE
Market Cap: £8.08 m
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