May 21, 2020 / 12:09 PM / 4 days ago

BRIEF-Hudaco Industries Says HY Headline Earnings And Comparable EPS Will Fall Over 20%

May 21 (Reuters) - Hudaco Industries Ltd:

* JSE: HDC - IMPACT OF THE COVID-19 EPIDEMIC ON HUDACO’S BUSINESSES, MITIGATING ACTIONS AND TRADING STATEMENT

* HUDACO INDUSTRIES LTD - REDUCING REMUNERATION OF NON-EXECUTIVE DIRECTORS, EXECUTIVE DIRECTORS AND OTHER SENIOR EXECUTIVES IN GROUP BY 33%

* HUDACO INDUSTRIES LTD - UNDERTAKING TO EMPLOYEES THAT THERE WOULD BE NO JOB CUTS FOR THREE MONTHS APRIL TO JUNE 2020;

* HUDACO INDUSTRIES LTD - REDUCING REMUNERATION OF OTHER EMPLOYEES BY BETWEEN 20% AND 7% FOR THREE MONTHS APRIL TO JUNE 2020

* HUDACO INDUSTRIES LTD - FINANCIAL RESULTS FOR SIX MONTHS ENDED 31 MAY 2020 HAVE BEEN SEVERELY IMPACTED BY COVID-19

* HUDACO INDUSTRIES LTD - REASONABLY CERTAIN THAT EARNINGS, HEADLINE EARNINGS AND COMPARABLE EPS FOR HY WILL BE OVER 20% LOWER THAN PREVIOUS YEAR Source text for Eikon: Further company coverage:

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