Network Data’s third annual conference kicked off today in Birmingham with Richard Griffiths, chief executive of Network Data Holdings admitting that the company had faced unprecedented challenges in 2007.
Griffiths says: “Last year at the conference I opened my speech by saying that 2006 had been a very successful year for us.
“But 2007 has seen unprecedented challenges for us and since August the market has been badly hit by the credit crunch. If anything it is going to get worse and it may be a few months before things get better.”
He confessed that the government’s inept handling of the Home Information Pack situation meant that it has also suffered loss in that area.
However, other parts of the business had performed well, such as panel management.