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Connect fighting multiple battles

Connect fighting multiple battles

It’s been a tough start to the calendar year for Connect (CNCT). Shares in the distribution company fell by a third after it warned that full-year adjusted profit would come in somewhere between £42m and £45m, falling short of analysts’ expectations of around £49m, while group revenue was down 3.5 per cent to £564.5m during the 13 weeks to 13 January. This should not have come as such a surprise – in October chief executive Mark Cashmore said 2017 had been a “challenging year” for the group, but emphasised cost savings were set to come through.

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