Heads for worst day ever after "blip" in growth path

TKH

13/08/2019 09:06

** Shares in Dutch technology company TKH Group  TWKNc.AS 
fall 15.8% after H1 results, set for their worst day ever
    ** Company reported a 8.8% decline in EBITA to EUR 77.6 mln
due to higher costs and expected growth in H2 2019 
    ** "The cost level was higher due to integration costs,"
Alexander van der Lof, CEO of TKH, says
    ** KBC Securities notes that both H1 results and FY guidance
are below expectations
    ** "We believe that H1 earnings may disappoint but we’d see
this as a blip on the long term growth path," the brokerage says
     ** H1 net profit (before amortization) was down 17% to EUR
46 mln (consensus: EUR 62 mln)        

 ((Camille.raynaud@thomsonreuters.com))