Symphony Environmental (AIM:SYM) - £300K extra marketing spend knocks shares
AimZine microcap comment
A trading update from Symphony issued at 10am on Wednesday morning reported that trading for the year will be broadly in line with expectations. However, Symphony has decided to spend an extra £0.3 million on marketing and consequently losses for 2015 will be higher than forecast.
In the Trading Update Symphony reported that the trend of marginally higher revenues, which it reported in its interim results, has continued into the second half and that the Board was comfortable that full year revenues will be broadly in line with market expectations.
However, Symphony reported that its board has decided to spend approximately £0.3 million of previously non-budgeted expenditure in respect of marketing, particularly in relation to its d2w range to increase awareness…
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