Brief: Vtech Holdings Updates On Impact Of Novel Coronavirus On Business

VTech Holdings

06/03/2020 01:26

March 6 (Reuters) - Vtech Holdings Ltd  0303.HK :
    * UPDATES ON IMPACT OF NOVEL CORONAVIRUS (COVID-19) ON
BUSINESS
AND OPERATIONS
    * EXPERIENCING A SLOWER-THAN-USUAL RETURN TO NORMAL
CONDITIONS
    * EXPECT FACTORIES IN MAINLAND CHINA WILL RETURN TO NORMAL
PRODUCTION CAPACITY IN APRIL 2020
    * ANTICIPATE SEEING A LOSS OF AROUND 1/3 OF PRODUCTION
CAPACITIES
IN MAINLAND CHINA IN FIRST THREE MONTHS OF 2020
    * GROUP REVENUE FOR FY20 IS FORECAST TO BE AT SIMILAR LEVEL
AS FY
2019, WHICH IS LOWER THAN PREVIOUSLY EXPECTED
    * MANY SUPPLIERS IN MAINLAND CHINA DID NOT RESUME WORK
IMMEDIATELY
AFTER CHINESE NEW YEAR HOLIDAY, LEADING TO DISRUPTION IN SUPPLY
CHAIN

Source text for Eikon:  ID:nHKSbCYsGV 
Further company coverage:  0303.HK 

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