UK's Aferian sees FY device revenue below expectations, shares fall

Aferian

24/10/2022 10:43

** Shares of B2B video streaming services co Aferian Plc
 AFRNA.L  down 35% at 84.9p 
    ** Set to post worst day since Oct. 2006
    ** Expects device revenue for FY to be about 10% lower than
its expectation  urn:newsml:reuters.com:*:nTUC5NWXRP 
    ** Sees FY22 group adjusted operating profit to be in range
of $7.8 mln to $8.8 mln, down from $11.8 mln it reported in FY21
    ** AFRNA hits lowest level since May 2019 
    ** Says its Amino business experienced delays as customers
reduce working capital, particularly in the U.S. 
    ** Including session losses, stock has fallen ~47% YTD 
 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))