The FlexiGroup Limited (ASX: FXL) share price continued its poor run on Monday and slid to a six-year low of $1.48.
This brought the financial services company's year-to-date decline to a disappointing 33%.
Why are its shares at a new low?
FlexiGroup's shares have been trending lower since the start of May when the company downgraded its full-year guidance following a weaker-than-expected performance from its Certegy financing division.
While the company ultimately hit the low-end of its revised guidance in August, it disappointingly forecast another decline in profit in FY 2018,
Although management expects the company to return to growth in FY 2019, it appears as though it has failed to convince the market that it will do so thus far.
Shareholders should expect an update on its performance so far in FY 2018 at its annual general meeting on November 27.
