May 6, 2020 / 5:08 PM / a month ago

BRIEF-CTT: Full Impacts Of Covid-19 On FY20 Can't Currently Be Accurately And Reliably Quantified

May 6 (Reuters) - CTT Correios de Portugal SA:

* SAYS MAIL VOLUMES STRONGLY AFFECTED BY RESTRICTIONS ON OPERATIONS AND MOVEMENT OF CARGO, BUSINESSES AND INDIVIDUALS DUET TO COVID-19 PANDEMIC

* SEVERAL LARGE CLIENTS’ STATEMENTS DELIVERIES AND ADVERTISING MAIL CAMPAIGNS WERE DELAYED OR CANCELLED IN MAR-20

* REGISTERED MAIL WAS AFFECTED BY DELAYS IN TAX NOTICES AND NOTIFICATIONS FROM COURTS IN MAR-20

* CTT SEES DOUBLE-DIGIT ADDRESSED MAIL VOLUMES DECLINE FOR FY2020

* SAYS REVISES CAPEX GUIDANCE DOWNWARDS TO 30 MILLION EUROS FOR 2020 WHILE MAINTAINING INVESTMENTS IN EXPRESS & PARCELS AUTOMATION

* THE FULL IMPACTS OF COVID-19 ON FY 20 REVENUES AND EARNINGS GUIDANCE CURRENTLY CAN'T BE ACCURATELY AND RELIABLY QUANTIFIED Source text: bit.ly/3ccldR4 Further company coverage: (Gdansk Newsroom)

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