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ComOps shares slide 18% after suspension lifted

ComOps shares slide 18% after suspension lifted

Business software developer ComOps (ASX:COM) was reinstated to quotation today with an 18.2% negative swing in trading price, as shareholders reacted to the company’s latest financial results.

The company’s share price fell to $0.090, after opening at $0.105.

COM shares had been suspended from trading since April 1, after the company failed to lodge its 2009 financial results on time.

But on Monday, the company posted its results, revealing its profit had fallen 60% to $1.4 million during the financial year.

Chariman Geoffrey Wild said a number of its significant clients had decided to postpone their activities until 2010.

But he said that the orders had not been lost, but merely delayed.

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