SRP cuts margin forecast on marketing investments, storage costs

SRP Groupe SA

25/07/2017 18:28

July 25 (Reuters) - French online retailer SRP Group 
 SRPG.PA  nudged down its annual margin forecast on Tuesday 
after reporting a steep drop in first-half core earnings. 
    Earnings before interest, tax, depreciation and amortisation 
fell 30.8 percent to 10.9 million euros ($12.7 million) for the 
first six months of the year. 
    SRP forecast an annual core operating margin (EBITDA) in the 
5.5-6.0 percent range, down from the over 6.0 percent it had 
stated previously, as it sees higher marketing investments and 
storage costs in the second half of the year. 
    The operator of webshops such as showroomprive.com 
maintained its 2017 revenue targets, however, and also left 2020 
guidance unchanged. ($1 = 0.8581 euros) 
 
 (Reporting by Camille Raynaud; Editing by Adrian Croft) 
 ((Camille.Raynaud@thomsonreuters.com;)) 
 
Keywords: SRP GROUPE RESULTS/