Inspecs Group PLC (AIM:SPEC) shares dropped 12% after a cautious statement about current trading conditions prior to its annual general meeting.
The group anticipates that revenues and earnings for the first half of the financial year “will be lower than the prior year, more in line with historic trading”.
Inspecs noted the equivalent period in the previous year was a record one, “in part was due to elevated levels of ordering as retailers sought to secure their inventory positions post Covid”.
“We expect momentum to improve across the Group's markets and to benefit from increased distribution and ongoing operational efficiencies. As a result, Group guidance for the full year remains unchanged,” the company added.
Shares were swapping for 64.68p at the time of writing.