SHARES in Bede plc slumped 11 per cent after the semiconductor group warned its full-year figures were likely to come in at the lower end of City expectations.

Bede, based on the Belmont Business Park in Durham City, floated on the stock market in November 2000, raising £30m.

It manufactures a range of X-ray test equipment for use in the production of semiconductors.

Yesterday, it said it had been hit by delays in shipments of a number of large despatches towards the end of the year, which meant that although earnings would be within brokers' expectations, they were likely to be at the lower end of forecasts and below the market consensus.

Revenues - which Bede said would still show "strong growth" in a challenging market - are also expected to come in lower than the consensus.

However, the company said the delayed shipments were likely to generate strong revenues in the first quarter of this year.

It added: "The directors see evidence of returning confidence in the worldwide market as shown by stronger enquiry levels and expected short-term order bookings."

Shares fell 23p yesterday to 188.

For the year to December 31, 2000, Bede posted a pre-tax loss of £127,000 on turnover of £4.9m. The group has yet to make a profit.