UK's Pod Point tumbles to record low on annual revenue forecast cut

Pod Point group

20/01/2025 08:26

** Shares of electric vehicle charging point provider Pod
Point Group  PODP.L  fall 34.6% to a record low of 10.98 pence
    ** PODP lowers FY rev forecast to 53 mln pounds ($64.70 mln)
vs previous guidance 60 mln pounds
    ** Says weakness in private new car segment of EV market has
affected trading, resulting in lower-than-expected rev 
    ** Expects adj EBITDA loss to be in line with forecast of
around 14 mln stg
    ** "We made good progress on our costs, but
weaker-than-expected private EV market has negatively impacted
revenues," says CEO Melanie Lane
    ** Stock fell ~41% in 2024 
   

 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com))