Accsys shares fall 11% as distributor destocking prompts profit forecast cuts

  • Accsys Technologies shares fell 11% after its trading update highlighted distributor destocking.
  • Panmure Liberum cut its pre-tax profit forecast to €2.4 million from €7.7 million.
  • Accsys previously forecast full-year adjusted EBITDA of €21 million to €23 million.

Accsys Technologies Plc shares fell 11% after a trading update highlighted distributor destocking and a 10.6% decline in volumes. The company previously reported a 6% revenue drop to €56.9 million in the first five months and forecast full-year adjusted EBITDA of €21 million to €23 million. Panmure Liberum cut its pre-tax profit forecast to €2.4 million from €7.7 million and also lowered its revenue estimate.

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