Brief: Probi says no longer expects to hit organic growth goal in 2017

Probi AB

04/09/2017 06:16

STOCKHOLM, Sept 4 (Reuters) - Probi  PROB.ST :  
     
    * Says goal to organically grow 
faster than the global market is unlikely to be met in 2017 
    * Says has been informed that one of its largest customers 
in the North American market is continuing its previously 
introduced destocking program, now as a result of over purchases 
and safety stock reduction 
    * Says it is expected that the destocking 
will continue during the second half of 2017 and the first 
quarter of 2018 
    * Says it is expected that this will affect net sales 
negatively with approximately MSEK 50 per quarter over said 
period compared with corresponding periods 2016 and 
2017 
 
    Source text:  urn:newsml:reuters.com:*:nWkrc6Jt6W 
    Further company coverage: PROB.ST 
 
 
 (Reporting by Johannes Hellstrom) 
 ((johannes.hellstrom@thomsonreuters.com; +4687001008; Reuters 
Messaging: johannes.hellstrom.reuters.com@reuters.net))