April 23, 2020 / 6:56 AM / a month ago

BRIEF-Tower Investments FY Net Profit Up At 5.3 Mln Zlotys

April 23 (Reuters) - Tower Investments SA:

* REPORTED ON WEDNESDAY FY NET PROFIT 5.3 MILLION ZLOTYS VERSUS 4.1 MILLION ZLOTYS YEAR AGO

* FY REVENUE 39.0 MILLION ZLOTYS VERSUS 38.9 MILLION ZLOTYS ESTIMATED ON MARCH 19

* FY OPERATING PROFIT 8.6 MILLION ZLOTYS VERSUS 8.2 MILLION ZLOTYS ESTIMATED ON MARCH 19

* SAID THAT SECTOR IN WHICH THE GROUP OPERATES, IN PARTICULAR OPERATORS OF THE GROCERY STORES SHOULD SMOOTHLY GO THROUGH THE ECONOMIC SLOWDOWN PERIOD AND NOTICE AN INCREASE IN REVENUES AMID COVID-19 EPIDEMIC

* SEES LIMITED AVAILABILITY OF CERTAIN BUILDING MATERIALS, EXTENDED DELIVERY TIMES AND SHORTAGE OF STAFF IN THE CONSTRUCTION INDUSTRY

* GROUP WILL TAKE ACTION TO REDUCE CURRENT OPERATIONAL COSTS AND TO MAINTAIN AS MANY ON-GOING PROJECTS AS POSSIBLE

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Further company coverage: (Gdansk Newsroom)

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