Ceconomy: cuts forecasts for 2017/2018
(CercleFinance.com) - The German group Ceconomy has said that it is reducing its forecasts for FY 2017/2018, now expecting EBITDA of between 680 million and 710 million euros (714 million in 2016/2017), with operating profit between 460 million and 490 million euros (vs.
494 million euros in 2016/2017).
For these two indicators, Ceconomy - which is also a shareholder in the Fnac group - was until now expecting low single-digit growth.
After this profit warning the stock is down sharply in Frankfurt, losing around 6%.
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494 million euros in 2016/2017).
For these two indicators, Ceconomy - which is also a shareholder in the Fnac group - was until now expecting low single-digit growth.
After this profit warning the stock is down sharply in Frankfurt, losing around 6%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.