Losses knock London Bridge

LONDON Bridge Software fell again as it warned of £52.6m losses this year. It dropped 5p to 23 1/2p, cutting founder Gordon Crawford's stake, once worth £1.3bn, to £18m. This year's sales were below hopes at £62m. It wrote off £52m. Crawford called 2002 'the most difficult year in the company's history', and said things are getting no better. LBS has £20m cash, and makes trading profits.