Sopheon down as fourth-quarter sales pushed into new year

AIM-listed enterprise software firm Sopheon (LON:SPE) has seen its share price fall by 10.33% to 618.75p (as of 14:55 GMT) as the company said that a number of opportunities in its pipeline would not be signed before 2020. Management said that the overall size of the pipeline was unchanged and just the timing had been shifted due to a range of customer-specific issues.

Chairman Barry Mence commented: “The Board continues to believe that Sopheon is uniquely well placed to secure a leading position in the new and rapidly emerging enterprise solutions space of strategy execution management. This belief is undimmed by recent operating performance and conversion delays. Nevertheless, as a disciplined business, we have continued to tune costs in line with revenue wherever possible, while mindful of maintaining drive behind our strategic priorities. With a solid market position underpinned by a strong balance sheet and a strong pipeline, we continue to face the future with confidence and we fully intend to press on with our own strategic initiatives for long term growth and expansion“.