New Zealand's Solution Dynamics hits 9-year low after losing services tender

Solution Dynamics

26/11/2024 23:01

** Shares of New Zealand's Solution Dynamics  SDL.NZ  fall
as much as 24.1% to NZ$0.850; their lowest since May 19, 2015
    ** Stock posts its biggest intraday percentage decline since
April 16, 2013
    ** Communications management company says it lost the tender
to provide customer communications services to its largest
client
    ** Says it will initiate restructuring, but cost reductions
unlikely to offset "severe" impact of reduced margin and lost
earnings
    ** Stock down 41.4% YTD, including session's move



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))