Shares in interactive whiteboard maker Promethean World fall as much as 41 percent, touching an all new low, after the company expects full-year results to be below current market expectations following certain constraints in its key education markets.
Third quarter revenue fell 41.2 percent to 40 million pounds ($64.29 million), while year-to-date revenue dropped to 123.2 million pounds, the company said.
"We have a sell on the stock," Peel Hunt analyst Alex Jarvis, says, adding that visibility is very low and the company's sales line is going to stay under pressure for the foreseeable future.
The company is hurt as the education budgets are under massive pressure, she adds.
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