Sport Entertainment & Media says World Cup has hit transfer market

Sport Entertainment & Media is blaming the World Cup for cutting its profits.

It says its profits will not meet expectations, although they'll be "significantly ahead" of last year's.

The company says the World Cup caused a slowdown in the transfer market.

This was despite it concluding deals such as the transfer of Kenny Cuningham from Wimbledon to Birmingham.

The group says its decision not to represent Formula 1 racing drivers for the moment will also hit its results.

SEM, which represents heavyweight boxing champion Lennox Lewis, says its footballing activities are growing strongly and it's succeeded in winning commercial deals for its clients.

These include Thierry Henry appearing in the Renault Clio advertisements; Ian Wright appearing in Carpetright ads; and Lennox Lewis advertising Walker's crisps.

The group is also signing on celebrities such as Vanessa Feltz, Caprice and Nell McAndrew.

The company is changing its year-end to September because the current year-end is too close to the start of the football season and because of planned changes to the football transfer window.