Shares in Marlowe PLC (AIM:MRL) fell almost 18% in early trade after the compliance software specialist effectively lowered its earnings guidance for the year.
Peel Hunt said it was reducing its EPS forecast by 6-8% for the current year to factor in lower-than-anticipated EBITDA and higher borrowing costs. Stifel followed suit, lowering its numbers by 6.4% and 11.5% respectively for financial years 2024 and '25.
Marlowe, along with interim results that revealed EBITDA rose by 10% to £43 million, said it is launching a strategic review of the business that could see its break-up.
At 9.03 am, the stock was off 89.25p at 414.75p.