Desenio shares tumble on guidance cut amid sales slowdown

Desenio AB (publ)

08/07/2021 09:04

** Shares in Desenio  DSNO.ST  plummet 33% after the Swedish
wall decoration maker cut its 2021 guidance, citing impact of
the ease of COVID-19 related restrictions on net sales
 urn:newsml:reuters.com:*:nFWN2OJ0WA
    ** Desenio says it expects a negative organic growth in Q2
as the "significant" deterioration in traffic that started at
end of May continued in June
    ** "People became temporarily less inclined to decorate
their homes", Chief Executive Fredrik Palm says
    ** Desenio shares are set for their worst day since listing
on Nasdaq First Growth Market in February this year
    ** Today's losses wiped off SEK 3.9 billion ($452.40
million) from the company's market cap


($1 = 8.6207 Swedish crowns)

 (Reporting by Boleslaw Lasocki in Gdansk)
 ((boleslaw.lasocki@tr.com))