Share price of Perform Group halves

Perform2Digital sports rights company Perform Group saw its share price more than halve on Thursday – stripping more than £600m off its stock market value – after issuing a profits warning as trading deteriorated in the final three months of the year.

The company, which provides sports videos and data to consumers and betting companies such as Bet 365 and William Hill, downgraded its profit forecast this year after revealing a significant deterioration in advertising and sponsorship revenues in the fourth quarter.

Investors took the news badly with the one-time stockmarket darling taking a 58% share price fall, down 247p to 180p.

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