December 19, 2018 / 6:12 AM / 7 months ago

BRIEF-Gurit Adjusts FY 2018 Operating Profit Guidance And Says To Divest Compo-Site Components Business In 2019

Dec 19 (Reuters) - GURIT HOLDING AG:

* ADJUSTS OPERATING PROFIT GUIDANCE FOR FY 2018 AND ANNOUNCES BOTH RESTRUCTURING AND DIVESTMENT OF COMPO-SITE COMPONENTS BUSINESS IN 2019

* OPERATING PROFIT MARGIN FOR FULL YEAR 2018 IS NOW EXPECTED TO COME IN AT 6.5-7.5 % OF NET SALES

* THIS IS CAUSED BY HIGHER LOSSES AND RESTRUCTURING EXPENSES IN COMPOSITE COMPONENTS COMPARED TO WHAT EXPECTED AT H1 2018

* DECIDED TO RESTRUCTURE COMPOSITE COMPONENTS BUSINESS AND TO CONCENTRATE COMPONENT MANUFACTURING IN HUNGARY IN 2019

* MOREOVER A DIVESTMENT PROCESS FOR COMPOSITE COMPONENTS HAS BEEN INITIATED Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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