Brief: Lehto Slashes Outlook For 2019 Due To Project Delays, Losses

Lehto Oyj

06/08/2019 06:03

Aug 6 (Reuters) - Lehto Group Oyj  LEHTO.HE :
    * LEHTO GROUP PLC: LOSSES IN THE FIRST HALF OF THE YEAR
DECLINE
LEHTO'S FINANCIAL OUTLOOK FOR THE YEAR 2019
    * ESTIMATES THAT GROUP'S NET SALES FOR 2019 WILL BE AT LEVEL
OF
2018 OR LOWER THAN ON YEAR 2018 (EUR 721.5 MILLION IN 2018)
    * NET SALES OUTLOOK IS WEAKENED DUE TO DELAYS IN START OF
BUSINESS
PREMISES PROJECTS
    * MAIN REASON FOR DECREASE IN ESTIMATED OPERATING PROFIT IS
DUE TO
LOSSES IN COMPLETE RENOVATION PROJECTS WHICH ARE SIGNIFICANTLY
LARGER THAN ESTIMATED
    * LEHTO GROUP - ESTIMATES OPERATING PROFIT WILL BE NEGATIVE
DUE TO
STRONGLY NEGATIVE FIRST HALF OF 2019 (OPERATING PROFIT EUR 37.2
MILLION IN 2018)
    * OPERATING PROFIT OUTLOOK IS ALSO WEAKENED BY SINGLE
LOSS-MAKING
PROJECTS IN SOCIAL CARE AND EDUCATIONAL PREMISES AND BUSINESS
PREMISES SERVICE AREAS AND SLIGHTLY DECLINED SALES PRICES OF
APARTMENTS

Source text for Eikon:  ID:nWkr15zyvW 
Further company coverage:  LEHTO.HE 

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