doValue slides on outlook cut, weak collections

doValue

08/08/2024 08:47

** Shares in Italy's doValue  DOVA.MI  fall as much as 6.1%
as the firm cut its full-year profit guidance citing weaker debt
collection activity in H1
    ** DoValue lowered guidance for revenue and EBITDA to ranges
of 460-480 mln euros ($502.7 million to $524.6 million) and
155-165 mln euros respectively
    ** "In light of the H1 results and the usual favourable
seasonality in H2, we think that the new guidance is
reasonable," says broker Equita in a note
    ** At 0745 GMT the stock trades down 4.5%, underperforming
Italy's all-share index  .FTITLMS , which falls 1.4% 
    ** Including today's fall, the stock has dropped by 49% YTD

 (Reporting by Enrico Sciacovelli)
 ((enrico.sciacovelli@thomsonreuters.com))