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Monday, February 26, 2024
HomeHydrogen Company ITM Power Sees Shares Nosedive After Profit Warning
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Hydrogen Company ITM Power Sees Shares Nosedive After Profit Warning

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Shares in ITM Power nosedived 13.5 per cent on the London Stock Exchange this morning, after the energy storage specialist announced a third profit warning in less than eight months. The company is forecasting lower revenues and deeper losses than expected, with results for the full year ending April 2023 now expected to be “materially different from the current guidance.” This comes after the ITM uncovered more delays to deliveries on customer contracts, extra costs and inventory write-downs. The company has issued three profit warnings…

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