Psion shares plunge after profits warning

Technology group Psion, which made the Organiser pocket computer in the Eighties, today issued a profits warning due to supply problems.

It said revenues for the half year to 30 June would be about 4% below last year, "primarily [due to] supply chain issues in relation to one product in the final weeks of the period" as well as the weak pound and costs of developing its new PDA device, EP10.

Psion, which is a considerably smaller company than it once was after offloading its consumer businesses to focus on handheld computers used by the likes of construction managers and couriers, said it expects to post a half-year loss of around £4 million, down from a £700,000 profit the previous year.