Perform in £4m profit downgrade

Sports media group Perform saw its share price fall 14.8 per cent yesterday after it warned that full year earnings would be around £4m lower than expected. The earnings downgrade was due to a poor second half performance from its technology and production arm. Perform, which boasts billionaire Len Blavatnik as its biggest shareholder, also reported that revenue rose 31 per cent in its third quarter to £51.8m. The company’s share price closed yesterday at 460p.