Tecan slides as FY reported sales miss guidance
09/01/2024 09:20
** Shares in Tecan TECN.S are down 3.9% after the Swiss
life science equipment maker reported full-year sales result
below guidance
** The company's reported sales declined 6.1% year-on-year,
while reported sales in local currencies were down 1.3% when
compared to 2022
** Vontobel notes that Tecan's sales missed the previously
given outlook for a sales growth of a low to mid-single-digit
percentage range in local currencies
** "Sentiment on the stock has been mixed in 2023 due to
profit warnings from peers and a partial share price recovery in
the last two months," the brokerage adds
(Reporting by Paolo Laudani)
((Paolo.Laudani@thomsonreuters.com))