May 1, 2020 / 5:01 AM / a month ago

BRIEF-Forfarmers Gives Q1 2020 Trading Update

May 1 (Reuters) - ForFarmers NV:

* FORFARMERS GIVES Q1 2020 TRADING UPDATE

* IN Q1 OF 2020 A “SUBSTANTIAL INCREASE IN UNDERLYING EBITDA WAS REALISED”

* GROSS PROFIT: UP (4.4%); IN Q1 2019 INCLUDED AN UNFAVOURABLE PURCHASING POSITION

* EXPECT TO REALISE A BETTER UNDERLYING EBITDA IN FIRST HALF-YEAR 2020 COMPARED TO FIRST HALF OF 2019

* “IN LIGHT OF INCREASED UNCERTAINTIES DUE TO COVID-19, WE REFRAIN FROM EXPRESSING ANY FURTHER EXPECTATIONS”

* UP TO NOW CO SEEN NO MATERIAL IMPACT OF COVID-19 MEASURES ON CORE PROCESSES

* Q1 VOLUME TOTAL FEED DOWN (-5.3%); LIKE-FOR-LIKE DECLINE IN ALL CLUSTERS

* Q1 2020 VOLUME COMPOUND FEED DOWN (-3.8%)

* Q1 2020 UNDERLYING EBITDA UP 44.1% Source text for Eikon: Further company coverage:

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