Brief: Gefran Q1 net result swings to loss of EUR 0.7 mln
12/05/2016 12:49
May 12 (Reuters) - Gefran SpA GFRN.MI :
* Q1 revenue 29.5 million euros ($33.57 million) versus 30.3 million euros a year ago
* Q1 net loss 0.7 million euros versus profit 1.1 million euros a year ago
* Reports Q1 net profit excluding non-recurring items of 0.7 million euros
* CEO Maria Chiara Franceschetti says "the slight drop in (Q1) revenue compared to the first
quarter of 2015 is due to the performance of the Asian markets"
* CEO says the group sees in FY 2016 consolidated revenues up 8 percent year on year,
recovery of EBITDA margin, forecast to be about 8 percent of revenues, and EBIT between 3
percent and 3.5 percent
Source text for Eikon: ID:nBIA121b2
Further company coverage: GFRN.MI
($1 = 0.8787 euros)
(Gdynia Newsroom)
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