March 25, 2020 / 12:15 PM / 11 days ago

BRIEF-Epwin Group To Implement Controlled Shutdown Of Operating Sites

March 25 (Reuters) - Epwin Group PLC:

* COVID-19 UPDATE AND NOTICE OF RESULTS

* DRAWING DOWN REMAINDER OF OUR REVOLVING CREDIT FACILITY

* TAKEN DECISION TO IMPLEMENT A CONTROLLED SHUTDOWN OF EPWIN’S OPERATING SITES FOR A TEMPORARY PERIOD

* BELIEVES THAT IT WOULD BE IMPRUDENT TO RECOMMEND PAYMENT OF A FINAL DIVIDEND FOR YEAR ENDED 31 DECEMBER 2019

* BOARD FULLY INTENDS TO RECOMMENCE DIVIDEND PAYMENTS

* INTENDS TO MAKE USE OF CORONAVIRUS JOB RETENTION SCHEME GRANTS

* EXPECTS TO REPORT FY REVENUE OF £282.1M (2018: £281.1M)

* OPERATING PROFIT FOR YEAR ENDED 31 DECEMBER 2019 IS ANTICIPATED TO BE WITHIN RANGE OF MARKET EXPECTATIONS

* GROUP EXPECTS TO REPORT FY UNDERLYING OPERATING PROFIT OF £19.1M (2018: £18.7M) Source text for Eikon: Further company coverage:

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