May 14, 2020 / 8:23 AM / 19 days ago

BRIEF-Lecico Egypt Says COVID-19 Impact May See Deterioration In Numbers In Q2 And Beyond

May 14 (Reuters) - LECICO EGYPT:

* WILL SURVIVE DISRUPTION CAUSED BY CORONA VIRUS EVEN IF IT STRETCHES INTO COMING YEAR

* IMPACT OF CORONA WILL LIKELY SEE A DETERIORATION IN NUMBERS QUARTER-ON-QUARTER IN 2Q AND BEYOND

* SCALING BACK PRODUCTION WITH EXTENDED CLOSURE OF KILNS TO SAVE ENERGY; AND REDUCED PURCHASES, DELAYED PAYMENTS TO LIMIT CASH OUT TO SUPPLIERS

* CHAIRMAN SAYS WHILE MOST OF MARKETS REMAIN TRADING, OUR KEY MARKETS LIBYA, JORDAN, LEBANON ARE ON LOCKDOWN WITH NO TRADING SINCE MID-MARCH

* IN EUROPE CONTINUE TO TRADE IN KEY MARKETS BUT DEMAND IS FALLING, MANY OF OUR MARKETS ARE TRADING AT 20-50% OF LEVEL SEEN IN PREVIOUS MONTHS Source: (bit.ly/2Z2dEcf) Further company coverage:

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