Shares in Australian Ethical Investment have plunged by about 10 per cent in early trade after a profit warning from the financial services firm.
The company says expenses associated with the issue of shares under the firm's previous employee incentive schemes mean that it won't hit its annual net profit target of $2.3 million to $2.8 million.
It now expects its net profit for 2014/15 to be between $1.7 million and $2.1 million, down from the $2.5 million it made last financial year.
Shares in the company were $6.48, or 9.97 per cent, lower at $58.51 by 1035 AEST.
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