ThirdForce sees profits dip

AIM and IEX-listed international e-learning firm ThirdForce has said its profits fell from €520,000 from €800,000 in the first half of the year.

ThirdForce blamed "the continuing market downturn and negative trading conditions", especially among its corporate clients, for the dip in profits.

Revenue for the six months ended June 30 was €12.03m, 11% lower than the €13.48m reported for the corresponding period in 2008.

ThirdForce boss Brendan O’Sullivan said the company was positioned for growth "when companies move from their current cautious and cash-conservation mode".