Christie Group PLC (AIM:CTG) shares fell 15% to 90p after the distressed business services specialist issued another profit warning.
While invoicing levels have improved "markedly" since the end of the summer, a number of contract payments are likely to slip into 2024.
So while the group expects to report an improved second-half performance compared to the first, buyers and vendors that are actively working towards contractual exchange have told Christie they intend to delay transactions "to avoid pre-Christmas operational disruption to their businesses".
As a result, full-year profits before exceptional costs are now likely to be below current market expectations, it said.
On the plus side, transaction pipelines and activity are "much improved" from twelve months ago.