Shares in the
Conviviality said it expects adjusted earnings before interest, taxes, depreciation and amortization for the current year to be about 20% below market expectations, resulting from a material error in the financial forecasts of the Conviviality Direct business, impacting Ebitda by
For the financial year ended April 30, Conviviality reported adjusted Ebitda of
The company said sales and orders have increased, compared with the year before, but this was more than offset by soften margins in January and February. The margin intends to remain weak until the end of current financial year, it said.
Last year, Conviviality reported sales of
The previous guidance for net debt of around