Brief: Comptoir Group Sees Material Reduction In Financial Expectations For 2020

Comptoir

19/03/2020 11:39

March 19 (Reuters) - Comptoir Group PLC  COM.L :
    * COMPTOIR GROUP PLC  - COVID-19 UPDATE
    * COMPTOIR GROUP PLC - TRADING IN JANUARY AND FEBRUARY WAS
IN LINE
WITH BOARD'S EXPECTATIONS.
    * COMPTOIR GROUP PLC - TRADING OVER RECENT DAYS HAS HOWEVER
BEEN
INCREASINGLY SIGNIFICANTLY IMPACTED BY COVID-19
    * COMPTOIR GROUP PLC - BOARD OF COMPTOIR HAS TAKEN DECISION
TO
CLOSE ITS RESTAURANTS WITH IMMEDIATE EFFECT UNTIL FURTHER
NOTICE.
    * COMPTOIR GROUP PLC - DIFFICULT TO ACCURATELY ASSESS EXTENT
TO
WHICH COVID-19 COULD IMPACT OUR TRADING AND FINANCIAL
PERFORMANCE AT THIS TIME
    * COMPTOIR GROUP PLC - EXPECT A MATERIAL REDUCTION IN OUR
FINANCIAL EXPECTATIONS FOR 2020.
    * COMPTOIR GROUP PLC - REDUCTION IN EMPLOYEE COSTS ACROSS
HEAD
OFFICE AND AT SITE LEVEL AND REDUCTION IN OTHER VARIABLE COSTS
WHERE POSSIBLE
    * COMPTOIR GROUP PLC - AS OF 18 MARCH 2020, COMPANY HAD NET
CASH
AT BANK OF £6.0 MILLION

Source text for Eikon:  ID:nRSS8037Ga 
Further company coverage:  COM.L 

 ((Reuters.Briefs@thomsonreuters.com;))