December 20, 2019 / 7:11 AM / a month ago

BRIEF-Showroomprive.Com Sees Sharper Than Expected Decline In H2 Revenues

Dec 20 (Reuters) - SRP GROUP SA:

* ANNOUNCED ON THURSDAY SHOWROOMPRIVÉ’S 2019 SECOND HALF BUSINESS REVIEW

* RATIONALIZATION AND COST OPTIMIZATION ACTIONS WILL ALLOW A SIGNIFICANT IMPROVEMENT OF H2 EBITDA COMPARED TO H1

* GROUP WILL HOWEVER NOT REACH ITS OBJECTIVE OF BEING PROFITABLE IN H2 DUE TO LESS DYNAMIC THAN ANTICIPATED ACTIVITY

* Q4, WHICH HAS ALWAYS HAD DECISIVE IMPACT ON GROUP PERFORMANCE, WAS HIT BY ADVERSE ECONOMIC AND SOCIAL CONDITIONS

* SAYS LEVEL OF COMMERCIAL ACTIVITY WAS NEGATIVELY IMPACTED BY STRATEGIC DECISIONS AIMED AT IMPROVING MEDIUM-TERM PROFITABILITY

* SHOWROOMPRIVÉ IS NOW FORECASTING SHARPER THAN EXPECTED DECLINE IN H2 REVENUES

* GROUP ANTICIPATES THAT AMOUNT OF ITS EBITDA LOSS FOR H2 WILL BE SIGNIFICANTLY LOWER THAN THE LOSS RECORDED FOR H1 2019

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Further company coverage: (Gdansk Newsroom)

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