Brief: Natuzzi Announces Consolidated Results For The Second Quarter And First Six Months Of 2019

Natuzzi SpA

27/09/2019 23:21

Sept 27 (Reuters) - Natuzzi SpA  NTZ.N :
    * NATUZZI ANNOUNCES CONSOLIDATED RESULTS FOR THE SECOND
QUARTER
AND FIRST SIX MONTHS OF 2019
    * NATUZZI SPA - CONSOLIDATED NET SALES FOR Q2 OF 2019 WERE
EUR
92.2 MILLION, DOWN 12.5% FROM EUR 105.3 MILLION IN SAME PERIOD
OF 2018
    * NATUZZI SPA - COMPANY EXPECTS 3Q2019 SALES ALMOST IN LINE
WITH
SAME QUARTER OF PREVIOUS YEAR
    * NATUZZI SPA QTRLY LOSS PER SHARE EUR 0.19
    * NATUZZI SPA - DURING QUARTER, COMPANY ACCOUNTED FOR EUR
1.4
MILLION FOR LAY-OFF COSTS AT ITALIAN OPERATIONS
    * NATUZZI - DEPENDING ON BUSINESS IN NORTH AMERICA FOR
UNBRANDED
BUSINESS, PARTICULARLY SUFFERING FROM TARIFFS IMPOSITION, CO IS
CONSIDERING OUTSOURCING IN VIETNAM
    * NATUZZI SPA - FOR UNBRANDED BUSINESS, ALSO VERIFYING
POSSIBILITY
TO HAVE AN OUTSOURCED ACTIVITY IN CENTRAL AMERICA
    * NATUZZI SPA - COMPANY CONFIRMS ITS INTENTION TO SALE
NON-STRATEGIC ASSETS
    * NATUZZI SPA - STARTED DISCUSSIONS WITH MANUFACTURERS
LOCATED IN
EASTERN EUROPE, TO SERVE CO'S WHOLESALES CUSTOMERS IN EMEAI
    * NATUZZI SPA - WILL CONTINUE TO SHIFT MANUFACTURING OF
LOWER
MARGIN PRODUCT TO CO'S ROMANIAN FACILITY
    * NATUZZI SPA - CO HAS TAKEN ACTIONS IN ORDER TO SELL SOME
NON-STRATEGIC ASSETS, INCLUDING SOME INDUSTRIAL ASSETS, SOME
REAL ESTATE PROPERTIES IN USA, ITALY

Source text for Eikon:  ID:nBw7v5Cjya 
Further company coverage:  NTZ.N 

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