Trouble-plagued mobile phone technology company Plus SMS Holdings has sacked a senior manager for gross misconduct and slashed its profit forecast.

New Zealand mobile company Plus SMS has sacked a senior manager of the company for "gross misconduct and alleged criminal fraud", but on an even worse note, the company has announced it expects to announce a full year loss of $3 million.

The company announced it has completed its internal investigations and has initiated legal action to recover potential losses caused by senior manager Nicolas Barrera Rios. The company says while this is unfortunate, the potential for the Latin American region "remains strong."

In February Plus SMS announced it expected to break even for the year ending 31 March 2008, but today's news has soured that prediction. The company's statement on the NZX says due to Barrera Rios' actions, the company has "suffered disruption to business operations, associated costs, and specific deferred or lost sales opportunities that were an integral part of the revenue forecast."

On a positive note, the company announced today that Gonzalo Ganida will be joining Plus SMS's CRE8 subsidiary as general manager in Santiago, Chile.