Brief: Forbo Says HY 2020 Group Profit Reduced To CHF 31.7 Mln from CHF 61.2 Mln

Forbo Holding AG

28/07/2020 05:20

July 28 (Reuters) - Forbo Holding AG  FORN.S :
    * HY 2020 NET SALES OF CHF 542.3 MILLION VERSUS  CHF 649.4
MILLION
    * HY 2020 OPERATING PROFIT (EBIT) CAME TO CHF 41.1 MILLION,
46.8%
LOWER THAN PREVIOUS YEAR (PRIOR-YEAR PERIOD: CHF 77.3 MILLION
    * HY 2020 GROUP PROFIT REDUCED TO CHF 31.7 MILLION
(PRIOR-YEAR
PERIOD: CHF 61.2 MILLION
    * SAYS GIVEN UNPREDICTABILITY OF CURRENT SITUATION, IT IS
DIFFICULT TO ISSUE ANY QUALIFIED GUIDANCE FOR COMING MONTHS"
    * GROUP ANTICIPATES SLIGHTLY HIGHER SALES IN SECOND HALF OF
2020
COMPARED WITH FIRST HALF OF YEAR
    * ANTICIPATES AN IMPROVEMENT IN GROUP PROFIT IN H2 ALSO DUE
TO
COST ADJUSTMENTS IT HAS MADE
    * NO RECOVERY IS YET IN SIGHT AT PRESENT FOR FORBO'S
IMPORTANT
CORE MARKETS SUCH AS USA AND UK, WHICH HAVE BEEN SEVERELY
IMPACTED

Source text for Eikon:  ID:nNDL9c2MzS 
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