Shares in Trifast (LSE:TRI) PLC dropped 14% within the first hour of trading after the company sounded the earnings alarm.
In an update, the industrial fasteners specialist revealed a forecast significantly below previous expectations for the fiscal year ending March 31.
Trifast (LSE:TRI) now anticipates revenues of around £230 million with an adjusted EBIT margin percentage of approximately 5%.
The company cited challenges from issues such as low visibility, volatile demand and significantly lower-than-forecasted volumes from Asia operations.
At 9.52 am, the shares were changing hands for 80.37p, down 12.63p.