UK's Camellia drops on gloomy annual outlook

Camellia

27/09/2023 11:55

** Shares of UK-based agriculture firm Camellia  CAME.L 
fall as much as 8% to 4,380p, their lowest since Dec. 15
    ** Company forecasts lower annual revenue, wider loss
    ** Sees annual revenue from continuing ops between 283 mln
pounds ($343.8 mln) and 287 mln pounds vs 297.2 mln pounds
reported a year ago
    ** Expects adj. loss before tax to be between 9 mln pounds
and 11 mln pounds vs earlier projection of a single-digit loss
    ** Average prices for tea in India, Malawi, and avocado
average selling prices all below expectations - CAME
    ** Stock among top pct. losers across all London stocks
    ** Shares down about 8% so far this year


($1 = 0.8231 pounds)

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))