Online classifieds portals operator Baltic Classifieds Group PLC said on Wednesday that the Estonian car market has been depressed by new vehicle transaction and ownership taxes, leading the group to lower its full-year guidance.
The FTSE 250-listed firm stated early signs of recovery had stalled, resulting in a continued reduction in Auto24 revenue compared to internal expectations.
From a group perspective, Baltic Classifieds now expects revenue and profit growth for the full year to be 3-4% below previous guidance.
Reporting by Iain Gilbert at Sharecast.com