- Attractions designer and fit-out supplier Paragon Entertainment downgraded its 2018 guidance following an audit of its financial statements.

'During the course of the audit of the 2018 financial statements it has become apparent that following the adoption of IFRS 15, certain revenue previously believed to be recognisable in FY2018 should now be deferred until FY2019,' the company said.

Pre-tax losses were not expected at £2.5m to £2.7m, compared to the guidance published in December of £2.4m.

Revenue was not expected at £8.8m to £9.2m, compared to the previous guidance of £9.5m to £9.8m, while the Ebitda loss was now expected at £2.3m to £2.5m.

The new numbers remained subject to the completion of the FY2018 audit process, the company said.

At 1:15pm: [LON:PEL] Paragon Entertainment share price was -0.18p at 0.65p

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