UK's Tremor International falls on revised full-year outlook

Nexxen International

17/08/2023 08:34

** Shares of advertising solutions provider Tremor
International  TRMR.L  down 29.9% at 178 pence, among top pct
losers across London stocks
    ** If losses hold, stock on track to log worst day since
June 2019
    ** Co reduces FY adj EBITDA forecast range to $85 mln to $90
mln from $140 mln-$145 mln
    ** Adds that challenging macroeconomic conditions led to
reduced budgets and will reduce advertising spending across
industry during H2 2023
    ** H1 Adj EBITDA fell 62% to $29.9 mln from $77.8 mln a year
earlier
    ** As of last close, Tremor stock down about 3% 


     

 (Reporting by Vaibhav Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))