Brief: SRV Q1 Operative Operating Profit Up At EUR 5.0 Million

SRV Yhtiot Oyj

29/04/2020 06:37

April 29 (Reuters) - SRV Yhtiot Oyj  SRV1V.HE :
    * SRV'S INTERIM REPORT JANUARY-MARCH 2020: SRV'S RECOVERY PROGRAMME PROGRESSES - A CLEAR
EARNINGS
TURNAROUND AND STRONG ORDER INTAKE
    * Q1 REVENUE EUR 208.1 MILLION VERSUS EUR 222.6 MILLION YEAR AGO
    * Q1 OPERATIVE OPERATING PROFIT EUR 5.0 MILLION VERSUS PROFIT EUR 0.5 MILLION YEAR AGO
    * OUTLOOK FOR 2020 SPECIFIED
    * SPECIFIES ITS GUIDANCE FOR 2020 IN TERMS OF AMOUNT OF COMPLETED DEVELOPER CONTRACTED
HOUSING
UNITS
    * MAIN FOCUS IN 2020 WILL BE ON MAJOR BUSINESS PREMISES CONTRACTS, HOSPITAL PROJECTS, AND
HOUSING
DEVELOPMENT PROJECTS FOR INVESTORS.
    * FEWER DEVELOPER-CONTRACTED HOUSING UNITS WILL BE COMPLETED IN 2020 THAN IN COMPARISON
PERIOD
    * IT IS ESTIMATED THAT A TOTAL OF 520 DEVELOPER-CONTRACTED HOUSING UNITS WILL BE COMPLETED
IN 2020
(808 IN 2019).
    * CORONAVIRUS PANDEMIC HAS HAD ONLY MINOR IMPACTS ON PROGRESS AT OUR CONSTRUCTION SITES, BUT
HOUSING TRADE HAS SLOWED.

Source text for Eikon:  ID:nWkr9dqCWY 
Further company coverage:  SRV1V.HE 

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