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BRIEF-QSC completes cost-cutting programme with one-off write-downs
December 20, 2016 / 2:10 PM / a year ago

BRIEF-QSC completes cost-cutting programme with one-off write-downs

Dec 20 (Reuters) - QSC AG :

* Is completing its two-year cost-cutting programme at end of 2016. Cumulative savings have significantly exceeded figure of 20 million euros targeted for 2016

* Has now decided to recognize a one-off write-down of 13.9 million euros on this segment’s goodwill and intangible assets in 2016 consolidated financial statements

* Will also be parting company with its subsidiary FTAPI Software GmbH in context of a management buyout. This will result in one-off write-downs of 1.5 million euros

* Decisions will not impact on full-year forecast for 2016 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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