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XLMedia plunges on strategic overhaul

XLMedia plunges on strategic overhaul

Shares in XLMedia (XLM) plunged by more than a third after the group warned that profits would be knocked by its shift away from “non-core” media activities and increased investment in its higher-margin publishing business. Management expects 2019 revenues to be down by around $30m (£22.5m) and a $6m-$7m dent to adjusted cash profits, which welcome in behind last year's figures. 

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