Quantica shares fell to their lowest in three years after the company said it had suffered badly from the loss of key fee earners in its supply-chain, legal and manufacturing recruitment businesses.

In a statement, the company said staff turnover was higher than expected. Although some replacements have been found, the company explained: "It has become apparent over recent weeks that the rebuilding process and the lead time before this translates into growth in revenues and earnings will take longer than anticipated."

Quantica added: "In addition, revenue and earnings from a major contract win in our technology business has taken longer than initially anticipated to be realised." In addition, the healthcare business was affected in the lead up to the conclusion of the recently announced sale to Shropshire-based Advantage Healthcare (Recruiter, 18 October).

Broker Bridgewell reduced its profit estimates for the year to November from £4.85m to £3.8m.