Brief: Mangata Holding Partially Halts Production In Some Units For 2-3 Weeks Amid Coronavirus Epidemic

Mangata Holding SA

31/03/2020 09:45

March 31 (Reuters) - Mangata Holding SA  MGTP.WA :
    * ON CORONAVIRUS: SAYS PANDEMIC DID NOT HAVE NEGATIVE IMPACT
ON
GROUP'S FINANCIAL SITUATION AND FY 2019 FINANCIAL RESULTS
    * SLOWDOWN IN SALES REVENUE DUE TO CYCLICAL CHANGES, NOT
CORONAVIRUS PANDEMIC
    * MANAGEMENT PLANS TO RECOMMEND ALLOCATION OF FY 2019 NET
PROFIT
TILL END OF APRIL
    * GROUP HAS FUNDS ALLOWING IT TO FUNCTION FOR FEW MONTHS
WITHOUT
SIGNIFICANT DISRUPTIONS, EVEN IN CASE OF PRODUCTION HALT
    * SAYS HAS SEEN REDUCTION OF ORDERS FROM AUTOMOTIVE SECTOR
    * DUE TO LIMITED DEMAND, SOME GROUP'S UNITS TEMPORARILY
SUSPEND
(FOR 2-3 WEEKS) PART OF PRODUCTION
    * IN THE CURRENT, DYNAMIC SITUATION GROUP CANNOT EXCLUDE
PRODUCTION HALTS ALSO IN OTHER PRODUCTION FACILITIES
    * DUE TO CORONAVIRUS PANDEMIC AND UNCERTAINTY REGARDING ITS
ECONOMIC EFFECTS, MANAGEMENT DOES NOT SEE LEGITIMACY FOR
PUBLISHING FORECASTS FOR 2020

Source text for Eikon:  ID:nEM7c6tbRa 
Further company coverage:  MGTP.WA 

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