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France's Technicolor warns on profits
January 12, 2017 / 6:19 PM / 8 months ago

France's Technicolor warns on profits

Jan 12 (Reuters) - French media and entertainment company Technicolor said on Thursday that core profits last year fell short of its forecast, hit by lower than anticipated sales in its connected home business and changes in foreign exchange rates.

The company said it expects to report adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of about 565 million euros. In October it reaffirmed a forecast of 600-630 million euros.

However, the company said free cash flow was in line with its target at above 240 million euros.

Reporting by Alan Charlish; Editing by Greg Mahlich

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