Brief: Noho Partners Issues Profit Warning

NoHo Partners Oyj

13/03/2020 07:36

March 13 (Reuters) - NoHo Partners Oyj  NOHOP.HE :
    * REG-NOHO PARTNERS PLC ISSUES A PROFIT WARNING, CHANGES ITS
PROFIT DISTRIBUTION PROPOSAL AND COMMENCES PERSONNEL ADJUSTMENT
MEASURES IN THE CHANGED MARKET SITUATION
    * CANCELS ITS PROFIT GUIDANCE FOR 2020 ISSUED ON 5 MARCH
2020.
    * DOES NOT SPECIFY ITS TURNOVER AND PROFITABILITY FORECAST
FOR
THIS YEAR IN MORE DETAIL
    * DECIDED TO CHANGE PROFIT DISTRIBUTION PROPOSAL
    * IT IS NOT PROPOSED EUR 0.15 ADDITIONAL DIVIDEND BE PAID IN
MAY
    * NOHO PARTNERS ESTIMATES THAT, DURING FINANCIAL PERIOD
2020,
GROUP WILL ACHIEVE A TOTAL TURNOVER OF APPROXIMATELY MEUR 300
AND AN EBIT MARGIN OF APPROXIMATELY 9 PER CENT.
    * BOARD OF DIRECTORS WILL BE AUTHORISED TO DECIDE PAYMENT OF
MAXIMUM OF EUR 0.15 ADDITIONAL DIVIDEND AT A LATER STAGE
    * WILL COMMENCE MEASURES TO ADJUST ITS PERSONNEL
    * COMPANY IS PREPARING FOR TEMPORARY CHANGES IN BUSINESS
ENVIRONMENT
    * MEASURES MAY RESULT IN FIXED-TERM, FULL-TIME OR PART-TIME
LAYOFFS OF PERSONNEL.
    * NEGOTIATIONS CONCERN ALL OF GROUP'S EMPLOYEES IN FINLAND.
    * NEGOTIATIONS WILL COMMENCE ON 18 MARCH 2020, AND THEY ARE
ESTIMATED TO LAST TWO WEEKS.
    * PERSONNEL ADJUSTMENT MEASURES WILL ALSO BE TAKEN IN NORWAY
AND
DENMARK

Source text for Eikon:  ID:nGNE1F521H 
Further company coverage:  NOHOP.HE 

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