UK's Videndum drops to more than 15-year low on downbeat FY24 forecast

Videndum

26/09/2024 09:30

** Videndum  VIDV.L  plunges as much as 20.5% to 222.50p,
its lowest since April 2009
    ** Stock top pct loser on FTSE Small Cap  .FTSC  index
    ** Co, which makes hardware and software for content
creation industry, forecasts FY24 performance below its previous
expectations, citing slower-than-expected recovery in the cine
and scripted TV markets
    ** H1 adjusted pre-tax profit from continuing operations
slumps 38% to 6.9 mln pounds ($9 mln); rev down 7.3% to 153 mln
pounds
    ** Stock last down 18%, taking YTD losses to ~34%; FTSC up
7%
    
  
($1 = 0.7495 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))