The security and holography group said results would be below the lower end of current market expectations because it did not expect to make deliveries of holographic material for use on the euro or other currencies, or realise revenue, until its new financial year begins.

AOT also said US growth was not at the levels it had anticipated. The groups broker lowered its pre-tax profit forecast from 1m to 100,000. Last year AOT made a pre-tax loss of 16.2m and was hit by costs of 6m after 500,000 of kit it had bought for euro work did not meet European Central Bank requirements (PrintWeek, 29 June 2001).

AOTs shares fell 10.5p to 46p after the announcement.