Brief: Votum SA lowers FY 2016 outlook

Votum SA

15/11/2016 09:28

Nov 15(Reuters) - Votum SA  VOT.WA : 
    * Said on Monday it has downgraded its 2016 revenue outlook 
by 9 pct to 92.5 million zlotys ($22.7 million) from 101.8 
million zlotys previously 
    * FY 2016 net profit outlook has been downgraded by 19 pct 
to 13.0 million zlotys from 16.1 million zlotys previously 
    * The downgrade was a result of tightening of insurers' 
payment policy towards the results of the insurance market, 
which in turn forced to lodge more lawsuits 
    * Due to the higher than anticipated customers' interest in 
MAXIMA agreement covering the widest package, the cost of legal 
service and fees has increased above standard level 
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM1469673 
     
 Further company coverage:  VOT.WA   
    
 
 
 
($1 = 4.0826 zlotys) 
 
 (Gdynia Newsroom) 
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