Shares in YooMedia, the largest independent interactive media company in the UK, fell sharply after the firm issued a trading statement.

YooMedia plc said that while significant progress has been made since the acquisition of DITG at the end of 2004, the games and gambling division has experienced lower than expected profit growth.

The company is revising its forecasts and believes that the results for the current year will be “significantly lower than the directors had originally anticipated”.

David Docherty stepped down as chief executive of YooMedia earlier this month.

Shares closed at 3.74 pence, down from a high of over 50 pence at the start of 2004.