Shares in Radio Rentals owner Thorn are getting crushed

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Shares in the Thorn Group, owner of Radio Rentals, fell sharply after the leasing company downgraded its profit guidance because of a weak retail market.

A short time ago, the shares were down 21% to $0.915.

The company issued a market update, saying it expects profit after tax to be 30% down on the previous year’s results.

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