jaywing plc shares fell thursday after the company said it expects fiscal 2023 earnings to rise but remain below market expectations and revenue to slip on delayed client spending shares at 0824 gmt were down 137 pence or 20 at 55 pence the uk digitalmarketing services company said that for the year ending march 31 it expects adjusted earnings before interest taxes depreciation and amortization to be above last years 22 million pounds 26 million though fall short of market expectations it didnt disclose market views though an estimate from a single analyst on factset puts adjusted ebitda at gbp35 million revenue is expected to be between gbp220 million and gbp225 million down from gbp233 million jaywing said this reflects softening demand over the past two months with clients deferring marketing spend until the macroeconomic situation improves or settles the company said it is confident the spending reduction is temporary and reflects delayed rather than lost revenue and that it is wellpositioned to benefit when economic conditions improve our cost management has mitigated the impact of this revenue shortfall allowing us to continue growing adjusted ebitda and has also ensured that the group is appropriately structured to operate in these challenging market conditions chief executive andrew fryatt said