SDL takes a hit

TRANSLATION program-maker SDL lost almost 15pc of its value after warning that its second largest division was struggling to make sales. The group’s software arm accounts for a third of its profits and almost 40pc of revenues.

But after the firm said its revenues in the division were ‘suppressed’, City analysts trimmed back their annual profit forecasts and the shares fell 72p. They closed at 568p, valuing SDL at £441m. The group is also involved in a US court battle with a former employee, which it estimates will cost up to £2m in legal fees.