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BRIEF-April's plan to reorganise group's operations in Switzerland and the US approved
December 7, 2016 / 5:25 PM / a year ago

BRIEF-April's plan to reorganise group's operations in Switzerland and the US approved

Dec 7 (Reuters) - April SA :

* Board of Directors approved plan to reorganise group’s operations in Switzerland and United States

* Begins to streamline its international operations, which was one of priorities set in 2015 for following year

* These priorities mainly aim to restore profitability of loss-making operations and drive sustainable growth

* In Switzerland April has sold its assistance operations and initiated run-off of its health insurance portfolios

* In US, group decided to outsource assistance claims handling for Spanish and English-speaking countries of American continent to a third-party service provider

* Measures will lead to recognise impairment on some assets amounting to 16 million euros ($17.2 million) with no impact on cash and 1 million euros in restructuring costs for current year

* Impact of these measures in group’s accounts should make up for most of non-current operating expenses forecast for year, estimated at around 20 million euros

* Measures do not affect forecast decline in current EBIT previously announced, which could reach lower end of an 8-12 pct range for 2016 versus year ago Source text for Eikon: Further company coverage: ($1 = 0.9300 euros) (Gdynia Newsroom)

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