Brief: Global Fashion Group Upgrades FY 2020 Outlook
09/10/2020 06:15
Oct 9 (Reuters) - GLOBAL FASHION GROUP SA GFG.DE :
* GLOBAL FASHION GROUP UPGRADES FULL YEAR 2020 OUTLOOK AFTER
STRONG Q3 GROWTH AND PROFITABILITY
* GLOBAL FASHION GROUP- NOW EXPECTS TO BE PROFITABLE WITH
RESPECT
TO ADJUSTED EBITDA FOR FY
* EXPECTS Q3 TO BE ANOTHER ADJUSTED EBITDA-PROFITABLE AND
CASH
FLOW-POSITIVE QUARTER AS A RESULT OF STRONG CUSTOMER DEMAND
* EXPECTS Q3 NMV GROWTH ON A CONSTANT CURRENCY BASIS OF OVER
33%
* GLOBAL FASHION-EXPECTS TO ACHIEVE FY CONSTANT CURRENCY NET
MERCHANDISE VALUE GROWTH OF AROUND 23%, DELIVERING C.EUR 1.9
BILLION NMV & C.EUR 1.3 BILLION OF REVENUE
* PRELIMINARY RESULTS FOR Q3 INDICATES ADJUSTED EBITDA
PROFITABILITY (LOW SINGLE DIGIT MARGIN)
Source text for Eikon: ID:nEQ2L9JDNa
Further company coverage: GFG.DE
(Gdansk Newsroom)
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