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17 May 2019 | 08:56

FFI Holdings expects earnings at lower end of guidance amid woes in completion contracts business

Film company FFI Holdings said it expected underlying earnings would be at the lower end of guidance amid weaker performance in its completion contract business. Underlying earnings (EBIT) would be within, but at the lower end of guidance of between $7.5m to $11.5m, the company said. Other than completion contracts business, which had been exposed to a number of previously disclosed headwinds in the financial year, all of the 'company's divisions are expected to report trading in line with or ahead of the Board's expectations,' it added.

The company's completion contract business had been experiencing a significantly slower second half of fiscal 2019 primarily driven by 'timing of closing current deals, a decrease in average production size, lack of larger production titles and reserves for possible claims, the details of which are still be worked out,' the company said in March.

At 8:56am: (LON:FFI) FFI Holdings Plc share price was -0.1p at 17.5p

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