Accsys falls as Panmure Liberum cuts profit forecast, keeps ‘buy'

Retail & Consumer Builders And Building Materials Written by: Ian Lyall 05:00 Mon 21 Sep 2026 --> Edited by: Jamie Ashcroft Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Accsys Technologies Plc ( LSE:AXS AEX:AXS OTC:ACSYF ) View Price & Profile Accsys falls as Panmure Liberum cuts profit forecast, keeps ‘buy’ Published: 05:00 21 Sep 2026 EDT Accsys Technologies Plc (LSE:AXS, AEX:AXS, OTC:ACSYF, FRA:1D8) fell 11% to 63.60p after a trading update showed distributor destocking. At the same time, Panmure Liberum cut profit forecasts but retained its ‘buy’ rating and 100p target. Management still expects group EBITDA excluding the joint venture to be broadly in line with expectations for the financial year ending March 2027. However, its corporate broker cut its pre-tax profit forecast, including the joint venture contribution, to €2.4 million from €7.7 million. Panmure Liberum also lowered group revenue estimates to €153.9 million from €180.4 million and EBITDA excluding the joint venture to €22.7 million from €23.3 million. Underlying those cuts, the modified wood supplier reported a 10.6% decline in volumes excluding the joint venture during the five months to August. Distributors reduced stocks amid difficult trading conditions, although cost controls and price increases cushioned the impact on profitability. Management indicated that destocking had begun to ease and underlying demand remained intact. Slower North American growth has delayed joint venture EBITDA profitability, with Panmure Liberum now forecasting just $0.1 million for the financial year, down from $9.2 million. Continue reading