The company’s stock has been at a worse than seven percent low on Wednesday
Pets The share of Musti Group, which sells supplies, has clearly fallen again on the Helsinki Stock Exchange on Wednesday. The company, which benefited from the puppy boom accelerated by the corona pandemic, published a April-June earnings report on Tuesday.
The company’s share has been at a worse seven percent short on Wednesday. On Tuesday, it collapsed more than 16 percent.
The company’s net sales and adjusted profit before intangible amortization increased clearly in April – June, as expected, but investors were frightened by the decline in the adjusted operating profit margin, which measures the company’s profitability.
Read more: Black’s share slipped by more than 16 percent – said the morning’s earnings and revenue growth
Due to lower-than-expected profitability, Nordea’s analysts lowered Musti Group’s earnings forecasts for the current and next financial year.
“We believe Must’s growth will continue to be positive, but margin development suffered a small collapse,” Nordea analysts write in the morning report.
At 6 p.m., Musti Group’s share was down 3.4 percent on EUR 29.72 on the Helsinki Stock Exchange.