Shares in Customers Ltd (ASX:CUS) plunged almost 30 per cent yesterday after the ATM operator issued yet another profit downgrade.
The company now expects to deliver full-year net profit before tax of between $16 million to $18 million, down from $24.8 million achieved the year before.
Customers has blamed market conditions for impacting its profit performance in the current financial year.
In particular, soft consumer sentiment, repeated adverse weather conditions across Australia, rising costs of living and higher fuel prices are among the factors Customers says have continued to moderate demand for ATM services.
Yesterday shares in Customers shed 29.08 per cent, losing $0.365 to close at $0.89.
In the first half of its 2011 financial year, Customers recorded a net profit of $11.7 million for the six months to 31 December 2010.
