April 27, 2020 / 6:20 AM / a month ago

BRIEF-Jacques Bogart FY Net Income Down At EUR 10.1 Million

April 27 (Reuters) - JACQUES BOGART SA:

* 2019 RESULTS PUT BOGART GROUP’S TURNOVER AT EUR 303.3M, 1.8 TIMES HIGHER THAN 2018 REPORTED TURNOVER

* FREE CASH FLOWS OF EUR 25M

* CASH AND CASH EQUIVALENTS TOTALLED EUR 57.7M AT 31 DECEMBER 2019, COMPARED TO EUR 58.6M AT 31 DECEMBER 2018

* FY NET INCOME GROUP SHARE EUR 10.1 MILLION VERSUS EUR 13.7 MILLION YEAR AGO

* HAS DECIDED TO MAINTAIN ITS 2020 TIMETABLE OF PRODUCT LAUNCHES TO ENABLE ITS BRANDS TO STEP UP THEIR EXPOSURE AND GAIN MARKET SHARE

* GROUP’S NETWORK OF 32 STORES IN FRANCE IS EXPECTED TO REOPEN PROGRESSIVELY FROM MONDAY, 11 MAY 2020

* TURNOVER FOR Q1 OF 2020, DUE TO BE PUBLISHED ON 30 MAY, WILL BE ADVERSELY AFFECTED BY THESE CLOSURES

* FREE CASH FLOW ROSE SHARPLY FROM EUR 14.1 MILLION IN 2018 TO EUR 25.1 MILLION IN 2019

* AGAINST THIS UNCERTAIN BACKDROP, COMPANY WILL PAY PARTICULAR ATTENTION TO MAINTAINING PROFITABILITY AND MANAGING CASH FLOW

* FROM MONDAY 20 APRIL 2020, GROUP REOPENED ITS NETWORK OF 95 STORES IN GERMANY

* 212 STORES IN BELGIUM AND LUXEMBOURG ARE DUE TO REOPEN ON MONDAY 4 MAY 2020

* THESE RESULTS ARE PROVISIONAL, ANNUAL FINANCIAL REPORT, INITIALLY SCHEDULED FOR 30 APRIL 2020, WILL BE POSTPONED TO 31 MAY 2020 AT EARLIEST

* COMPANY WILL SHORTLY BE INFORMING MARKET OF DATE OF ITS GENERAL MEETING IT IS POSSIBLE THAT THIS MEETING WILL BE HELD AFTER JUNE 30 JUNE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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