(Alliance News) - Airea PLC on Thursday said economic uncertainty hurt its earnings in the second quarter of its current financial year.
The stock was trading 31% lower on Thursday morning in London at 52.50 pence a share.
The distributor of floor coverings said it expects to report a decline in revenue and operating profit for the six months to the end of June, due to tough trading conditions during the second quarter.
Airea noted that it had a "very strong" first quarter and order book and saw a continued growth from its export markets.
In the first half of 2018, the AIM-listed firm delivered operating profit of GBP1.5 million on revenue of GBP9.1 million.
"Like many UK businesses the economic headwinds are against us and we are experiencing a high level of market uncertainty; however, the business is well positioned to continue to prosper despite this continued economic uncertainty," the company said in its statement Thursday.
Airea will announce its half-year results on August 2.
AIREA (AIEA)