|
Accsys Technologies PLC on Friday said it expects its full year sales volumes and revenue to fall below market consensus amid diminished demand for its products, but said trading in the first four months was robust. Shares in Accsys were down 24% at 74.01 pence each in London on Friday morning. The London-based wood building products manufacturer noted a strong start to the year ending March 31, with higher revenue and sales volumes compared to the prior year in the first four months. However, Accsys noted there has been a weakening demand for its products as trading conditions softened in the building materials, construction and residential housing markets in the UK, Europe and North America. As a result, the company expects sales volumes and revenue for the full year to be below market expectations. Accsys added that its annual earnings before interest, tax, depreciation and amortisation are likely to fall ‘significantly’ below expectations. The company will publish its interim results for the six months to September 30 on November 21. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
