Strip Tinning Holdings PLC (AIM:STG) saw its shares fall by 25% following a warning about the impact of a slowdown in the glazing and battery technology markets.
The company, a supplier of specialist connection systems, reported a challenging first half of 2024 with revenue and profitability impacted by market headwinds.
For the six months ending June 30, Strip Tinning reported a 15.3% decline in revenue, down to £4.8 million from £5.6 million in the same period in 2023.
The company expects full-year revenues to be around £9.1 million with an adjusted EBITDA loss of £1.9 million, reflecting the challenging market conditions.
Despite the current headwinds, it remains confident in its medium-term prospects.
The shares fell 13p to 38.5p.