Grupa Kęty struggles to meet its forecasts
"The potential downward deviation will not exceed 10 percent, which would force us to make an official correction," said Michał Malina, specialist for investor relations in Kęty.
The firm has published its preliminary Q3 results, according to which consolidated revenues will top zł.290-300 million, while net profit - zł.22-24 million. In this way sales are about 10 percent lower than last year, while earnings are 14 percent down.
To meet its full year forecast the group would have to post a profit of zł.23-25 million on revenues of zł.378-388 million in Q4.
The company is being restructured which envisages a slowdown in investments, efficiency improvements and savings, which will involve laying off 10 percent of its 2,700 employees.
Source: Parkiet (M.M.)
The firm has published its preliminary Q3 results, according to which consolidated revenues will top zł.290-300 million, while net profit - zł.22-24 million. In this way sales are about 10 percent lower than last year, while earnings are 14 percent down.
To meet its full year forecast the group would have to post a profit of zł.23-25 million on revenues of zł.378-388 million in Q4.
The company is being restructured which envisages a slowdown in investments, efficiency improvements and savings, which will involve laying off 10 percent of its 2,700 employees.
Source: Parkiet (M.M.)
