Autins Group PLC (AIM:AUTG) shares plummeted over 50% after the maker of acoustic and thermal insulation said the halting of production by Land Rover Jaguar, its major customer, due to a cyberattack has had "a material effect" on its UK operations.
JLR said overnight that car production would remain on pause until at least next Wednesday, 24 September, as it investigates a cyberattack at the start of the month.
Autins said it is "in dialogue" with JLR, and awaits further guidance about when production will restart.
Until then, it has taken measures to reduce exposure to this incident, including using a "banked hours" system for employees, delaying or cancelling raw material orders and pausing discretionary spend across the business.
"The JLR cyberattack is concerning not just for Autins, but the wider automotive supply chain the true impact of which will not be known for some time," said CEO Andy Bloomer.
"Autins is doing everything possible to protect our business now and ensure we are ready to benefit as we come out the other side."
On top of this, the company said the automotive industry has continued to see volatile trading conditions as a result of delayed launches for new models, confusion over government legislation and changing trade tariffs.
Otherwise, Autins said a strategic rejig had been producing positive results, with a renewed focus on winning new business in the UK and Germany, cost control and efficiency improvements.
The first five months of its financial year to March 2026 has seen net loss before tax reduced to £258k from £714k in the equivalent period last year, on revenues of £7.7 million versus £8 million.
Shares fell to below 5p in early trading, down from the 10p last close, before losses were pared to 7.92p.