System1 downgrades guidance

System1 has again downgraded its profit guidance after trading conditions deteriorated.

Trading in the third quarter continued to be worse than anticipated, the company said, and gross profit was now expected to be around 20% less than the previous year.

That compares to the company's downgraded guidance in October of a 9% fall in profit.

At 9:12am: (LON:SYS1) System1 Group Plc share price was -65p at 320p