Brief: Wavestone Sets No FY Targets Due To COVID-19 Pandemic
02/06/2020 17:15
June 2 (Reuters) - Wavestone SA WAVE.PA :
* DOES NOT SET 2020/21 FINANCIAL TARGETS
* OUTLOOK: IT AIMS TO GENERATE €15 MILLION SAVINGS OVER THE FINANCIAL YEAR 2020/21
* PERFORMANCE PLAN ENCOMPASSES EUR 15 MILLION OF SAVINGS IN 2020/21
* SUSPENDS STRATEGIC PLAN WAVESTONE 2021 AND EXTERNAL GROWTH PROJECTS
* END-FY OPERATING CASH FLOW EUR 55.3 MILLION
* FY NET INCOME GROUP SHARE EUR 31.1 MILLION VERSUS EUR 30.8 MILLION YEAR AGO
* FY OPERATING MARGIN FROM RECURRING OPERATIONS AT 13.2%
* END-MARCH 2020 AVAILABLE CASH EUR 65.1 MILLION
* FOR MONTHS OF APRIL AND MAY, WAVESTONE'S ACTIVITY WAS DOWN BY -15% TO -20% COMPARED TO
PRE-CONFINEMENT SITUATION
Source text: https://bit.ly/3dDIBaQ
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