UK's Eneraqua Technologies hits record low on gloomy annual profit outlook

Eneraqua Technologies

31/08/2023 08:56

** Shares of Eneraqua Technologies  ETP.L  fall as much as
36.8% to record low of 60p   
    ** The energy and water solutions provider sees FY24 core
profit to be below current market expectations of 8.8 mln pounds
($11.2 mln) 
    ** Sees delay in majority of client projects until there is
more clarity on government's proposals to change legislation in
nitrate-sensitive areas 
    ** Says uncertainty created by proposal expected to have a
negative impact on core profit by up to 2 mln pounds this FY
    ** Up to last close, stock had fallen ~70% so far this year
 
 ($1 = 0.7873 pounds)

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