Promethean shares hit record low as margins shrink and outlook dims

first_imgTuesday 24 August 2010 7:48 pm Promethean shares hit record low as margins shrink and outlook dims whatsapp Tags: NULL Promethean World yesterday saw its shares tumble to an all-time low after a disappointing trading update.The interactive education technology firm posted a surge in profit, but lower margins and a lacklustre outlook sent investors running for cover.The firm, which supplies interactive white boards and learning software to schools, said its gross margins declined by 350 basis points to 42.5 per cent as it sold more of its less-profitable interactive display systems. Nonetheless Promethean forecast full-year trading would remain strong and in line with expectations.Analysts were last night split over the firm. Julian Yates of Investec said: “The sales mix has muted gross margins, but Investec expect this to largely reverse in the second half of the year. We see the stock undervalued, considering the growth rates posted and underpenetrated end markets.”But Jon Fletcher of Altium Securities said: “We continue to believe that the gross margins will decline over time due to competitive pressures.” Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Sharecenter_img whatsapp Show Comments ▼ KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndo last_img

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