Sopra Steria heads for worst day in 45 mths on guidance cut
** Sopra Steria SOPR.PA shares slump more than 10% after the French IT consulting company cut FY sales guidance and missed H1 expectations as customers spend less
** It eyes a "relatively stable level" of organic revenue growth in 2024, versus previous guidance of 2-4% growth
** It estimates itsH1 sales grew 0.3% organically to 2.95 billion euros ($3.21 billion)
** The group expects no significant rebound in H2, pointing to a "highly uncertain environment" in France, short-term problems in the aeronautics sector and delays in an important contract in the UK
** JPM sees a negative read-across for the wider European IT services sector, including French peer Capgemini CAPP.PA
** Sopra Steria touches its lowest price since early November, and heads for its worst one-day slump since end-Oct 2020, if losses persist
($1 = 0.9187 euros)
Reporting by Olivier Sorgho
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
