Production tailer and vehicle hiring firm Facilities by ADF PLC (AIM:ADF) slumped almost 40% on Tuesday after warning ongoing delays in the TV and film sector would hit results this year.
Uncertainty around the UK’s Autumn Budget and US election had seen production companies further push back or scrap films and shows altogether, a statement said.
This came as delays caused by strikes by writers and actors in the US last year had begun to recede, Facilities by ADF said.
Full-year figures were expected to be in line with 2023 as a result, with adjusted profit before tax of £7.3 million to £8.0 million guided and revenue seen at £35 million.
Facilities by ADF had previously pointed to returning momentum after the strikes in interim results.
“The impact on funding and greenlighting of productions across the remaining part of the second half of the year [...] has been extremely frustrating,” chief executive Marsden Proctor said.
“Whilst the high level of deferred work has impacted our results for 2024, some of this will push into 2025, in addition to all the other exciting productions we are in discussions with.”
Shares fell 39.7% to 31.47p.