Brief: Festi Q1 Gross Profit From Sales Rises To ISK 4,321 Million

Festi hf

30/04/2020 07:41

April 30 (Reuters) - Festi hf  FESTI.IC :
    * SAID ON WEDNESDAY GROSS PROFIT FROM SALES IN Q1 2020
AMOUNTED TO
ISK 4,321 MILLION COMPARED TO ISK 4,231 MILLION IN Q1 2019
    * OPERATING EXPENSES IN Q1 2020 ISK 3,301 MILLION COMPARED
TO ISK
2,902 MILLION ON Q1 2020
    * COVID-19 OUTBREAK CAME INTO PLAY WITH THE CONGREGATION BAN
IN
MARCH, WHICH HAD A SIGNIFICANT IMPACT ON THE GROUP DURING Q1 AND
WILL HAVE AN IMPACT OVER THE NEXT FEW MONTHS
    * N1'S OPERATIONS WERE HOWEVER HIGHLY IMPACTED BY THE
CONGREGATION
BAN, DECLINE IN TOURISM AND REPORTED LOSS ON INVENTORY DUE TO
FALLING FUEL PRICE IN THE WORLD MARKET
    * FESTI IS COMMITTED TO ACHIEVE ITS MID- AND LONG TERM
GROWTH
TARGETS

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE21bVyq
    
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