Refile: BUZZ-UK's Auction Technology plunges after cutting profit margin forecast

Auction Technology

04/08/2025 09:49

Fixes syntax in final bullet point

** Auction Technology Group's ATG.L shares down nearly 21% at 380p

** Online auction operator is top loser on FTSE mid-cap .FTMC index, which is up 0.61%

** Cuts FY profit margin guidance to 42%-43% from 45%-46%

** Co to buy furniture retailer Chairish for $85 million on a cash-free, debt-free basis with no deferred or contingent consideration

** We are constructive on the strategic rationale for the acquisition as the next step in advancing ATG’s competitive position and long-term strategy - brokerage J.P.Morgan
** YTD, including session moves, ATG down 30.5%, FTSE mid-cap up 5.86%

 (Reporting by Subiksha S in Bengaluru)

 ((Subiksha.S@thomsonreuters.com))