- Company investor CEPS said trading in the first half was 'materially behind' its previous expectations, owing to losses at fabric and wallpaper pattern-book company CEM.

The losses at CEM were partly due to integration and rationalisation costs stemming from its acquisition of Sampling International.

The expenses had included redundancy costs of 27 people that were unbudgeted.

'Turnaround at Sampling International is now well underway as the company enters into what has been historically its busiest period of the year,' CEPS said.

'However, as part of the rationalisation programme certain business has been moved to Sampling International from CEM where it can be better and more efficiently serviced.'

'Clearly this has, in the short term, left a gap in the sales and output at CEM.'

At 2:50pm: [LON:CEPS] CEPS PLC share price was -10p at 22.5p

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