Internet security firm Baltimore, which earlier this week announced plans to cut 250 jobs as part of a restructuring plan, has reiterated its forecast of only 'modest' revenue growth.
Chairman Peter Morgan told the company's AGM the IT sector was facing 'new challenges' as a result of the global economic downturn.
'The economic climate for technology infrastructure investment is leading to a more conservative approach to investment in IT by many customer organisations,' he added.
But Morgan said the company remained confident there was a significant market for its products in the medium term.
