Bagir Group warns on half year figures

22nd Jul 2014 11:18

Shares in tailoring firm Bagir Group lost more than a fifth of their value on Tuesday after it warned it would deliver an annual pre-tax loss of around $2m, with revenue coming in at the lower end of its expectations at $48m. The group had previously predicted full-year revenue would total between $100-104m. Earnings before interest, tax, depreciation and amortisation (EBITDA) is set to total $1.6m, compared to previous full-year expectations of $4-6m. The figure does not include the initial public offering costs of $0.3m. Net debt at June 30th 2014 was approximately $9m.Shares had fallen 21.88% to 9.38p by 10:17.NR