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Provider: Wright Reports
Provider: MarketLine (a Datamonitor Company)

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Wolford AG announces negative guidance for H1 FY 2013/2014

Wednesday, 11 Dec 2013 11:49am EST 

Wolford AG:Announces negative operating earnings expected results for the first half of 2013/2014.Says that the first six months of the current financial year closed with a 2.3 percent decline in revenues to 74.81 million euros and EBITDA of 1.64 million euros, compared with 4.01 million euros in the previous year. EBIT totaled -2.29 million euros (H1 2012/2013: -0.09 million euros).Says that after an adjustment for foreign exchange effects, the revenue decline amounted to a comparatively low 0.7 percent.Says the wholesale business remained reserved during the reporting period, which led to a decline of 11 percent and, in total, to negative revenue and earnings development for the reporting period.Says this trend continued during the second quarter, and revenues and earnings for the period from Aug. to Oct. were therefore below expectations.Says it has revised its guidance for the current financial year based on the development of revenues and earnings during the first six months and the implementation of optimization measures. 

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-0.0050 -0.02%
3:22am EST