April 30 (Reuters) - Festi hf:
* SAID ON WEDNESDAY GROSS PROFIT FROM SALES IN Q1 2020 AMOUNTED TO ISK 4,321 MILLION COMPARED TO ISK 4,231 MILLION IN Q1 2019
* OPERATING EXPENSES IN Q1 2020 ISK 3,301 MILLION COMPARED TO ISK 2,902 MILLION ON Q1 2020
* COVID-19 OUTBREAK CAME INTO PLAY WITH THE CONGREGATION BAN IN MARCH, WHICH HAD A SIGNIFICANT IMPACT ON THE GROUP DURING Q1 AND WILL HAVE AN IMPACT OVER THE NEXT FEW MONTHS
* N1’S OPERATIONS WERE HOWEVER HIGHLY IMPACTED BY THE CONGREGATION BAN, DECLINE IN TOURISM AND REPORTED LOSS ON INVENTORY DUE TO FALLING FUEL PRICE IN THE WORLD MARKET
* FESTI IS COMMITTED TO ACHIEVE ITS MID- AND LONG TERM GROWTH TARGETS
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