New Zealand's Trade Window hits record low on FY24 forecast cut

Trade Window Holdings

01/11/2023 23:28

** Shares of Trade Window Holdings  TWL.NZ  fall as much as
3.8% to NZ$0.255, hitting a record low 
    ** The software company says it has trimmed its FY24 revenue
forecast to between NZ$6 million ($3.52 million) and NZ$6.5
million from its previous guidance of NZ$7 mln - NZ$8 mln
 urn:newsml:reuters.com:*:nFWN3C236R 
    ** Co also says it will undertake further reorganisation of
business; conducts discussions with 80 global staff to reduce
monthly expenses and costs by minimum 50% 
    ** Also announces discussions to divest one of its
businesses 
    ** Shares set to see worst day since Oct 2 
    ** Stock has fallen ~55.1% this year, as of last close


($1 = 1.7030 New Zealand dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))