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Ontex slumps to all-time lows on another guidance cut, 'disappointing' Q3

By Reuters News

** Shares in Ontex ONTEX.BR fall around 11% after it cut FY guidance as Q3 results missed expectations

** The personal hygiene products maker cuts previously lowered guidance of FY EBITDA to €143-148 million ($159-165 million) (prev.: €165-180 million)

** KBC points out "a significantly increased balance sheet stress" and cuts rating to "hold" from "accumulate" with PT reduced by 42% to €1.75

** Ontex reports Q3 EBITDA of €25.9 million, missing KBC Securities' estimates by 35% and consensus by 32%, which the broker sees as "disappointing"

** The shares are on track for their worst day since December if losses persist

** They touch their lowest price ever

($1 = 0.8993 euros)

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