Mitula Group Limited
(ASX:MUA) has reduced its full year revenue forecasts by about $5 million, to now be between $34 million and $36 million. It is a decrease from previous projections of between $38 million and $41 million.
The company has reduced its adjusted EBITDA forecast for current year 2017, to be between $12 million and $13 million. This is a decrease from previous forecasts of between $17 million and $19 million.
The digital classifieds group says lower than expected AdSense and cost per click revenue, plus a configuration error, are key drivers for the revised forecasts.
Shares in Mitula Group Limited
(ASX:MUA) are currently trading 43 per cent lower to 57 cents.
