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BRIEF-Qt Group oyj updates long-term goals, plans rights issue
February 16, 2017 / 6:18 AM / 7 months ago

BRIEF-Qt Group oyj updates long-term goals, plans rights issue

Feb 16 (Reuters) - Qt Group Oyj:

* Plans to achieve in 2021 an annual turnover of 100 million euros ($106 million) with more than 15 percent operating profit margin (EBIT%)

* Updated strategy is based on strong investment in growth, focusing mainly on increasing Qt’s market share among major device vendors

* Due to investments made into company’s growth, operating profit is estimated to be negative between 2017 and 2018

* In 2019, a positive commercial result is expected, operating profit of more than 15 percent of sales to be realized in 2021

* Board of directors will be seeking authorization to organize a rights issue for approximately 15 million euros

* To refrain from distribution of dividends until further notice Source text for Eikon:

Further company coverage: ($1 = 0.9418 euros) (Gdynia Newsroom)

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