Business Weekly - Cambridge, UK

ANT said that despite making ‘good progress’ in executing an agreement with Cisco-owned Scientific Atlanta, made last September, the roll-out of IPTV technology within the rest of its customer base is not accelerating as the firm had expected.

As a result, it expects losses for 2007 to be significantly greater than previously forecast, which was anticipated to be in line with the previous year's loss before tax of £983k.

“The expected reduction in current year revenues will result in a significantly greater loss for 2007 than previously expected, which the Board has taken steps to alleviate by reducing the Company's cost base in the second half of the year,” the firm said in a statement.

Shares in the company have seen a precipitous drop, losing almost 30 per cent, falling 8p to 29.5p.