Rungepincockminarco issues profit downgrade

The mining software developer slumps after warning the market about a 84% fall in pre-tax earnings.

Rungepincockminarco (RUL) suffered its worst fall in two months after the mining software developer issued a profit warning this morning.

The stock fell 10.5% to 47 cents as management flagged an 84% plunge in 2012-13 operating earnings before interest, tax, depreciation and amortisation (EBITDA) to $1.9 million on the back of a 26% drop in net operating revenue to $73.9 million.

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