Shaver Shop shares plummet on FY forecast

Shares in the Shaver Shop Group have plummeted after investors were disappointed by a full-year earnings forecast.

Shares fell as much as 10 per cent in early trading despite the company on Wednesday projecting earnings that would be higher than last financial year.

Full-year sales were forecast to be between $211 million and $213 million, up from the $194.9 million of the 2020 financial year.

Net profit after tax was forecast to be between $16.75 million and $17.5 million. This would be higher than the previous $10.6 million profit by the same measure.

However investors were unimpressed and sent shares to a session low of 94 cents.

They were trading lower by 8.26 per cent to $1 at 1137 AEST.

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