Research Now shares plummet amid torrid year

LONDON - Shares in Research Now have fallen 45% as the beleaguered online research firm issued its second profit warning since the alleged murder of its finance manager in its offices earlier this year.

The death of Cathy Marlow in the firm's London offices in January was the catalyst for a torrid first half of the year.

Following the discovery of her body the firm's offices were closed for a number of weeks while police carried out their investigation, which has led to a man being charged with murder.

Staff were relocated, at first temporarily at an alternative site, but then permanently at considerable cost, which is set to slash its full year profits by around £500,000.

The statement, issued yesterday ahead of its interim results being published this Friday, also highlighted around £600,000 of other, unexpected costs during the first half of the year, mainly through buying access to internet panels in the US and Asia.

However, in the long term the future of the firm looks brighter, with costs expected to be reduced as the firm builds its own US panel. In addition, an announcement of a new, permanent chief financial officer is imminent.

Shares on London's Alternative Investment Market (Aim) tumbled 187.5p, to end yesterday on 225p. Over the last year the shares had been as high as 545p.

As well as its London base, Research Now also has offices in nine other locations including Paris, New York and Sydney.