The FTSE 250 company, a fixture in airports and transit hubs, confirmed it placed 25 million new ordinary shares at 410 pence each. This pricing represents a 17% discount against Tuesday’s closing value. Leadership, including Chair Leo Quinn and CFO Max Izzard, participated in the offering, which also included a 244,000-share retail component.

Management cited persistent instability in the Middle East and a sharp downturn in its North American operations as the primary drivers behind the weakened outlook. The company now anticipates adjusted pretax profits between 75 million and 90 million pounds, a notable retreat from the 90 million to 105 million pound range projected in April. North American airport revenue fell 2% as rising airfares and reduced flight capacity dampened passenger foot traffic. With trading performance heavily reliant on the final quarter, the retailer expects no immediate recovery in consumer confidence, leading to a downward revision of annual revenue growth targets for the North American division to a range of 4% to 6%.