StockMarketWire.com - Attractions design and fit-out company Paragon Entertainment downgraded its annual profit and sales guidance following an audit of its books.

The company said that following the adoption of new accounting standards some revenue that was previously expected to be recognisable in the 2018 financial year would be recognised in the following year.

Pre-tax losses for calendar 2018 were now seen at £3.0m, compared to previous guidance of £2.5m-to-£2.7m, while an Ebitda loss was now seen at £2.7m, compared to previous guidance of £2.3m-to-£2.5m.

Revenue was now seen at £9.0m, compared to previous guidance of £8.8m to £9.2m.

For the first half of 2019, revenue was seen at £6.5-to-£7.0m with similar revenue expected in the second half.

Ebitda for the first half was expected at £0.3m.



At 8:30am: [LON:PEL] Paragon Entertainment share price was -0.35p at 1.25p



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