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Provider: Reuters Investment Profile
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Dalhoff Larsen & Horneman A/S Divests Inventory in Antwerp; Updates on FY 2013 Financial Guidance


Thursday, 26 Sep 2013 02:59am EDT 

Dalhoff Larsen & Horneman A/S (DLH) announced that the Company has decided to sell its inventory in Antwerp, which serves the Belgian, Dutch and German markets and, during 2014, will cease stock based sales in these markets. The move is part of the effort to optimize the Group’s total earnings and the desire to reduce working capital, which as per September 25, 2013 accounts for approximately DKK 100 million for the markets in question. The decision has no impact on the DHL's outlook for the fiscal year 2013 as a whole, which is a turnover of around DKK 2.2 billion and an EBIT of between minus DKK 30 and 40 million. However, the operations in Belgium, the Netherlands and Germany for Q3 reporting will be classified as discontinued. According to I/B/E/S Estimates analysts on average are expecting the Company to report revenue of DKK 2,194.00 million and EBIT of negative DKK 35.00 million for the fiscal year 2013. 

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4:54am EDT