Dublin-listed company Veris has warned that its moving and storage division will not perform as strongly as expected this year.

In a trading statement, the company said this was due to a downturn in the UK and US economies, which meant a fall-off in the volume of goods being transported, and lower volumes in the Irish commercial sector.

It added that, as a result, there would be a number of lay-offs in the division, while some staff would be put on a shorter working week. Veris said these measures would affect 5% of its total staff of around 550.

But it said its facilities management and property management divisions were trading in line with expectations in the first six months of the year. These account for 80% of group turnover and profits.

Overall, Veris said it expected earnings for the full year to be flat compared with 2007. Its first-half results are due on September 2.