Brief: Wavestone Says Coronavirus Likely To Affect Financial Objectives For 2019/20 FY

Wavestone SA

23/03/2020 06:19

March 23 (Reuters) - Wavestone SA  WAVE.PA :
    * COVID-19: AN UPDATE FROM WAVESTONE
    * IT'S POSSIBLE THAT SOME SUSPENDED PROJECTS MAY RESUME
SHORTLY
    * NOTICEABLE IMPACT ON BUSINESS ACTIVITY LEVEL
    * SINCE MARCH 16, 2020, ALMOST ALL THE COMPANY'S TEAMS HAVE
BEEN
WORKING FROM HOME
    * IN FINANCIAL TERMS, WAVESTONE IS ON A SOUND FOOTING, WHICH
ENABLES IT TO FACE CURRENT CIRCUMSTANCES WITH CONFIDENCE
    * BY MARCH 31, 2020, FIRM'S FINANCIAL SITUATION WILL HAVE
STRENGTHENED FURTHER, WITH NET DEBT SIGNIFICANTLY REDUCED
COMPARED TO SEPTEMBER 30
    * ON CORONAVIRUS: THIS SITUATION IS LIKELY TO AFFECT ANNUAL
FINANCIAL OBJECTIVES FOR 2019/20 FISCAL YEAR
    * IN ADDITION, WAVESTONE HAS TAKEN DECISION TO FREEZE ALL
RECRUITMENT UNTIL JUNE 1, 2020 - A MEASURE THAT WILL BE EXTENDED
IF NECESSARY
    * WILL BE MAINTAINING INTENSITY OF ITS COMMERCIAL ACTIVITY

Source text for Eikon:  ID:nACT62594 
Further company coverage:  WAVE.PA 

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