Brief: HighCo Q1 Gross Profit Down At 20.79 Million Euros

High SA

22/04/2020 18:24

April 22 (Reuters) - High Co SA  HIGH.PA :
    * HIGHCO: Q1 2020 GROSS PROFIT
    * Q1 2020 GROSS PROFIT OF EUR 20.79 M, DOWN 10.3% ON A
REPORTED
BASIS AND LFL
    * STRONG DECLINE IN FRANCE: Q1 LFL DOWN 13.6%
    * MORE PRONOUNCED DECLINE EXPECTED IN Q2 2020 THAN IN Q1
    * AT END-MARCH, GROSS CASH (EXCLUDING OPERATING WORKING
CAPITAL)
TOTALLED EUR 7.8 M (EUR 10.56 M AT 31 DECEMBER 2019)
    * PROPOSAL TO ALLOCATE ALL 2019 EARNINGS TO RESERVES, TO BE
PUT
FORWARD AT NEXT ANNUAL GENERAL MEETING.
    * SUSPENSION OF NON-PRIORITY INVESTMENTS (CAPEX);
    * COVID-19: Q2 2020 IS EXPECTED TO BE IMPACTED EVEN HARDER
BY
GOVERNMENT MEASURES AND TO SHOW A SIGNIFICANT DECLINE BOTH IN
AND OUTSIDE FRANCE
    * SUSPENSION OF SHARE BUYBACK PROGRAMME
    * BUSINESS DECLINE IN Q1 2020 DESPITE A POSITION OF SLIGHT
GROWTH
AT END-FEBRUARY

Source text for Eikon:  ID:nGNE47tJ45 
Further company coverage:  HIGH.PA 

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