Brief: Lehto Group Q3 Operating Results Swings To Loss Of EUR 14.4 Million

Lehto Oyj

07/11/2019 06:05

Nov 7 (Reuters) - Lehto Group Oyj  LEHTO.HE :
    * LEHTO GROUP PLC: BUSINESS REVIEW, JANUARY-SEPTEMBER 2019
    * Q3 NET SALES EUR 151.5 MILLION VERSUS EUR 198.0 MILLION
YEAR AGO
    * Q3 OPERATING LOSS EUR 14.4 MILLION VERSUS PROFIT EUR 8.2
MILLION
YEAR AGO
    * OUTLOOK FOR 2019 UNCHANGED
    * MAIN REASONS FOR LOSS WERE PROBLEMS IN COMPLETE RENOVATION
PROJECTS, DIFFICULTIES ENCOUNTERED IN SWEDISH PROJECT, AND
INDIVIDUAL LOSS-MAKING PROJECTS IN SOCIAL CARE AND EDUCATIONAL
PREMISES SERVICE AREA
    * "AFTER WE HAVE COMPLETED LOSS-MAKING PROJECTS THAT ARE NOW
ON
FINAL STRETCH, WE HAVE NO NEW DISAPPOINTING PROJECTS AHEAD OF
US" -CEO
    * NET WORKING CAPITAL FREED UP DURING LAST MONTHS OF YEAR
WILL
STABILISE BALANCE SHEET AND FINANCING

Source text for Eikon:  ID:nWkr6VWmx6 
Further company coverage:  LEHTO.HE 

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