Brief: Lagercrantz Provides A General Update With Regard To The Corona Virus Pandemic.

Lagercrantz AB

03/04/2020 16:47

April 3 (Reuters) - Lagercrantz Group AB  LAGRb.ST :
    * LAGERCRANTZ PROVIDES A GENERAL UPDATE WITH REGARD TO THE
CORONA
VIRUS PANDEMIC.
    * LAGERCRANTZ GROUP AB SAYS AS OF TODAY, GROUP HAS NOT
COMPILED
RESULTS FOR FINAL MONTH OF FINANCIAL YEAR (MARCH 2020), BUT
ASSESSMENT IS THAT PROFITS AND CASH FLOW CONTINUED TO BE GOOD
    * LAGERCRANTZ GROUP AB SAYS BALANCE SHEET IS STRONG AND
LIQUIDITY
AND CREDIT FACILITIES ARE SUBSTANTIAL.
    * LAGERCRANTZ GROUP AB SAYS COVID-19 WILL AFFECT WHOLE OF
SOCIETY
AND LAGERCRANTZ'S OPERATIONS WILL ALSO BE AFFECTED
    * LAGERCRANTZ GROUP AB SAYS EXTENT OF THIS IS STILL
DIFFICULT TO
JUDGE BUT MEASURES ARE NOW BEING TAKEN WITHIN GROUP TO ADJUST TO
A SIGNIFICANTLY LOWER BUSINESS VOLUME IN NEXT FEW MONTHS.
    * LAGERCRANTZ GROUP AB SAYS MEASURES BEING IMPLEMENTED
INCLUDE AN
INVESTMENT AND RECRUITMENT FREEZE, BONUS AND SALARY NEGOTIATIONS
ARE BEING POSTPONED TO A FUTURE DATE,

Source text for Eikon:  ID:nWkr69RgGP 
Further company coverage:  LAGRb.ST 

 (Reporting By Simon Johnson)
 ((simon.c.johnson@thomsonreuters.com;))