Sigma share price slumps after announcement

Sigma’s share price has slumped in response to an ASX announcement that its 2018 profit will be lower than forecast.

Sigma expects earnings before interest and tax (EBIT) of $90 million for the next fiscal year, below the current market consensus of around $95 million.

By mid-afternoon on Friday the share price had dropped by 6% to just over 87 cents.

The company blames the earning pressure on “general market conditions” and its ongoing focus on “enforcing consistent brand standards to improve brand performance”.

It says it