UK's Videndum bottoms FTSE small caps on tepid annual revenue forecast

Videndum

16/12/2024 08:45

** Shares of content related hardware and software solutions
provider Videndum  VIDV.L  down 10.9% at 228p; top loser on FTSE
small cap index  .FTSC  
    ** Projects FY24 revenue to be about 280 mln pounds 
($353.72 mln) lower than 306.9 mln pounds reported last year
    ** Flags slower than expected market recovery; sees 10 mln
pounds of cost savings in FY24
    ** "While there is still significant recovery potential and
restructuring costs to come through, management has to manage
costs and cash as best it can, market recovery is
slower-than-expected, and indebtedness needs to come down," -
Analysts at Jefferies
    ** Including session's losses, stock down 32.5% YTD





($1 = 0.7916 pounds)

 (Reporting by Dhanush Vignesh Babu in Bengaluru)
 ((DhanushVignesh.Babu@thomsonreuters.com;))