Shares in advertising platform Dianomi fell 12% on Tuesday in response to the group’s latest trading statement.
Chief executive Rupert Hodson conceded that growth initially forecast for the year “has not materialised” due to a challenging market environment and new privacy legislation causing a hit on ad spend.
However, Hodson said: “we are encouraged by the stickiness of both our advertiser and publisher base and the new names which have joined our platform this year”.
DNM shares are now down over 70% year to date, cutting the group’s market value to £34mln.