Preliminary Q3 sales below expectations, Q4 more in-line
Flexion released a trading update this morning saying that Q3 sales will be lower than expected, impacted by contract delays. Preliminary Q3 sales are GBP 15m (-35% vs. ABGSCe GBP 23m). The launch of Monopoly Go and Stumble Guys in Q4 has so far generated 26% y-o-y sales growth in October for the distribution segment in constant currency, Flexion therefore forecast GBP 22m-29m sales in Q4e, relatively in-line with ABGSCe GBP 27m. Due to this development, Flexion now forecast 0-10% sales growth for 2023, compared to 20-40% in its previous forecast.
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