Brief: B&S Group Q1 Overall Turnover Down At 420.5 Million Euros

B&S SA

18/05/2020 06:13

May 18 (Reuters) - B&S Group SA  BSGR.AS :
    * B&S GROUP PUBLISHES Q1 2020 TRADING UPDATE
    * B&S GROUP REAFFIRMS THAT IT HAS A SOLID BALANCE SHEET AND
SUFFICIENT CREDIT FACILITIES TO COVER ITS LIQUIDITY NEEDS
    * WE ARE CONTINUING OUR 2020-2022 STRATEGIC INITIATIVES WITH
AN
ENHANCED FOCUS ON OPTIMISING INTERNAL PROCESSES AND DIGITISING
OUR OPERATIONS
    * COVID-19 VIRUS INITIALLY IMPACTED OUR ASIAN MARKETS IN THE
FIRST
MONTHS OF Q1, WHERE IN THE LATTER PART OF MARCH THE CRUISE AND
TRAVEL RETAIL MARKETS CAME TO A STANDSTILL
    * ALTHOUGH EARLY DAYS, AT END OF QUARTER WE BEGAN TO NOTICE
FIRST
SIGNS TOWARDS RECOVERY IN OUR ASIAN MARKETS
    * Q1 1.3% OVERALL TURNOVER DECLINE TO EUR 420.5 M AT
REPORTED
RATES OR EUR 415.4 M AT CONSTANT CURRENCY IN Q1 2020 (Q1 2019:
EUR 425.9 M)
    * OUR ONLINE SALES TO PLATFORMS AND THE ACQUIRED MEDICAL
SUPPLY
BUSINESS OF LAGAAY TO A LARGE EXTENT COUNTERBALANCED THE EFFECT
OF COVID-19 ON TOTAL TURNOVER, RESULTING IN A 1.3% OVERALL
TURNOVER DECLINE TO € 420.5 M

Source text for Eikon:  ID:nNDL7yJXXK 
Further company coverage:  BSGR.AS 

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