STOCKS NEWS EUROPE-Quadnetics falls after update

Shares in Quadnetics (QDG.L) fall 7.7 percent after the surveillance technology and security networks firm issues a trading update, with Brewin Dolphin saying it will downgrade its numbers.

Quadnetics says difficult trading conditions in the U.S. casino market have resulted in projects being delayed, and there is a risk that a number of contracts may not close before the end of the financial year. [ID:nRnsE9902B]

Brewin Dolphin, in an note, says it is visiting the company later in the day and will get a more detailed update, but for now, it estimates that pretax profit for the year to end-May 2010 will be 1.2 million pounds lower than its previous forecast of 3.5 million pounds.

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