British communications company Sepura Plc said its full-year adjusted core profit could be 60 percent lower than its previous expectations, hurt by lower order intake.
The company's shares were down 54.3 percent at 20 pence, their lowest ever. The stock was the biggest percentage loser on the FTSE small-cap index.
Sepura said it had been hurt by delays in its device and systems units, which had a significant impact on its revenue.
The company reported adjusted earnings before interest, tax, depreciation and amortisation of 16.5 million euros for the year to April 1.
On Wednesday, the company said it may have to discuss waiving its covenants from March 2017 due to its revised expectations.
Sepura also said Gordon Watling, the company's chief executive since 2008, had received medical advice to take an immediate period of absence.
Chief Financial Officer Richard Smith will be appointed acting CEO, it said.
(Reporting by Mamidipudi Soumithri in Bengaluru; Editing by Maju Samuel)