Flow Traders head for worst day ever on 'significant miss' in H1 results

Flow Traders

26/07/2024 08:45

** Shares in Flow Traders  FLOW.AS  falls 16.1% after the
publication of weak second quarter results and halt on dividend
payment
    ** The Dutch financial technology company released EBITDA of
21.1 million euros ($22.89 million) for the quarter below 34.4
million euros in a company-provided consensus
    ** "This quarter was marked by low volatility and subdued
volumes, leading to a significant miss of expectations," KBC
analyst Thomas Couvreur says in a note
    ** The group also decided to halt dividend payment until
further notice to capture growth opportunities by retaining
earnings on the balance sheet, the analyst says
    ** Shares are on track for their worst day ever, if losses
hold
    


($1 = 0.9220 euros)

 (Reporting by Mathias de Rozario)
 ((mathias.derozario@thomsonreuters.com))