FRANKFURT (dpa-AFX) - A surprisingly high loss in the second quarter prompted investors in KWS Saat to sell on Thursday. In the afternoon, the shares lost almost ten percent to 53.20 euros, which was also the low for the day. In early trading, they had slipped below the EUR 56 mark, where they had caught up in December and January.
After a strong first quarter, the second quarter was weak, wrote analyst Andreas Heine from the investment bank Stifel. Once again, the seasonal nature of the SDax company's business was evident, with the first half of the year accounting for only 20 to 25 percent of annual sales.
However, this time the typical seasonal loss was higher than experts had expected. Even the confirmed annual forecast did not appease investors./ajx/he
