RS Group shares post biggest one-day loss in more than two years

Ruth's Hospitality

03/11/2022 09:24

** Shares of UK's industrial and electronic products
provider RS Group Plc  RS1R.L  drops as much as 12.2% to 838p
its lowest in since July 6
    ** Stock posts biggest intraday pct loss since March 2022
    ** Co announces CEO Lindsley Ruth to take a leave of absence
from the business with immediate effect
    ** In Ruth's absence, David Egan will assume Ruth's duties
in addition to his role as Chief Financial Officer
    ** Separately, Co posts HY adjusted operating profit of
196.1 mln pounds ($221.5 mln) vs 144.8 mln pounds a yr ago
    ** Says trading in Asia Pacific is affected by the slower
electronics market and reduced availability of single-board
computing products
    ** As of last close, shares down 31.1% YTD
($1 = 0.8853 pounds)
 (Reporting by Kavya B in Bengaluru)
 ((Kavya.B@thomsonreuters.com;))