March 24, 2020 / 5:39 PM / in 11 days

BRIEF-HighCo FY Attributable Net Income Up At 9.3 Million Euros

March 24 (Reuters) - High Co SA:

* FY EPS ROSE 7.9 PERCENT TO 0.45 EUR

* FULL-YEAR 2019 GROSS PROFIT OF EUR 95.22 M, UP 8.7% ON A REPORTED BASIS AND 4.6% LFL

* NET CASH OF EUR 62.38 M AT 31 DECEMBER 2019, UP EUR 10.22 M COMPARED WITH 31 DECEMBER 2018

* FY ADJUSTED OPERATING MARGIN OF 18.5%, UP 20 BASIS POINTS

* FY ATTRIBUTABLE NET INCOME EUR 9.3 MILLION VERSUS EUR 8.6 MILLION YEAR AGO

* NET CASH POSITION SURGED EUR 10.22 M TO EUR 62.38 M AT 31 DECEMBER 2019

* SEES DECLINE IN Q1 2020 GROSS PROFIT

* SEES SUBSTANTIAL IMPACT ON Q2 2020, WITH RISK OF SIGNIFICANT DECLINE IN GROSS PROFIT

* AT MID-MARCH 2020, GROSS CASH POSITION (EXCLUDING OPERATING WORKING CAPITAL) REMAINED STABLE COMPARED WITH 31 DEC 2019 (EUR 10.56 M)

* TO ALLOCATE ALL 2019 EARNINGS TO RESERVES, TO BE PUT FORWARD AT NEXT ANNUAL GENERAL MEETING SCHEDULED FOR 11 MAY 2020

* PLANS SUSPENSION OF SHARE BUYBACK PROGRAMME TO PROTECT ITS CASH POSITION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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