June 24, 2020 / 6:17 AM / 19 days ago

BRIEF-ICT Group's Q2 Productivity Levels Fall Around 5% Due To COVID-19

June 24 (Reuters) - ICT GROUP NV:

* ICT GROUP’S PRODUCTIVITY LEVELS FACED A DECLINE OF APPROXIMATELY 5% IN Q2 TO DATE COMPARED TO Q1 2020

* THE IMPACT OF COVID-19 IS MORE SIGNIFICANT IN THE SECOND QUARTER

* IS TAKING MULTIPLE MEASURES TO CUT AND CONTROL COSTS AND TO PRESERVE CASH, INCLUDING THE DECISION TO PROPOSE TO RETAIN ALL 2019 EARNINGS TO TODAY’S AGM

* DIVERSIFICATION IN REVENUE PORTFOLIO AND MIX IN INDUSTRY SECTORS IS SUPPORTING ICT’S BUSINESS RESILIENCE

* ACTIVITIES IN BULGARIA AND IN SECTORS INCLUDING PUBLIC INFRASTRUCTURE AND HIGH-TECH ARE HARDLY IMPACTED BY COVID-19, WHILE THE TIME HIRE SERVICES IN INDUSTRIAL AUTOMATION INDUSTRY SECTOR ARE IN PARTICULARLY IMPACTED

* MANAGEMENT IS CONFIDENT THAT ICT IS WELL POSITIONED TO RETURN TO ITS PRE-COVID-19 PERFORMANCE LEVELS Source text: bit.ly/3hWk57D Further company coverage: (Gdansk Newsroom)

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