Brief: Iceland Seafood International: Increased Uncertainty Due To COVID-19

Iceland Seafood Internat hf

16/03/2020 10:05

March 16 (Reuters) - Iceland Seafood International hf
 ICESEA.IC :
    * REG-ICELAND SEAFOOD INTERNATIONAL HF: INCREASED
UNCERTAINTY DUE
TO COVID-19
    * OUTBREAK OF COVID-19 AND RECENT ACTIONS IN EUROPE AND
UNITED
STATES TO CONTROL OUTBREAK WILL IMPACT SALES AND PROFITABILITY
OF ICELAND SEAFOOD INTERNATIONAL ("ICELAND SEAFOOD") IN COMING
WEEKS AND MONTHS
    * FINANCIAL IMPLICATIONS ARE UNCERTAIN AND WILL DEPEND ON
DEVELOPMENT AND TIMEFRAME OF RESTRICTIONS THAT HAVE BEEN SET
    * MOST NOTABLE IMPACTS AT THIS STAGE ARE ON SALES TO HORECA
AND
FOODSERVICE SECTORS, ESPECIALLY IN SOUTHERN EUROPE, WHILST
RETAIL SALES ARE EXPECTED TO REMAIN STRONG
    * PROFITABILITY OF ICELAND SEAFOOD WAS IN LINE WITH
EXPECTATIONS
IN FIRST TWO MONTHS OF YEAR
    * AT THIS STAGE IT IS UNCERTAIN HOW MUCH SALES AND PROFITS
FOR
YEAR WILL BE IMPACTED BY SITUATION
    * ON CORONAVIRUS: WILL COMMUNICATE FURTHER ON MATTER AS LESS
AMBIGUITY WILL BE ON DEVELOPMENT OF COVID-19 AND IT'S
IMPLICATIONS FOR COMPANY
    * SHORT TERM IMPACT IS GOING TO BE NEGATIVE, BUT AS OF NOW
IT IS
DIFFICULT TO PREDICT MID AND LONG TERM DEVELOPMENT

Source text for Eikon:  ID:nGNEblTgcH 
Further company coverage:  ICESEA.IC 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))