July 14, 2017 / 6:05 AM / 7 days ago

BRIEF-Teleste changes its financial outlook for 2017

1 Min Read

July 14 (Reuters) - TELESTE OYJ

* PROFIT WARNING: TELESTE RECORDS A GOODWILL IMPAIRMENT AND A RESTRUCTURING PROVISION FOR THE SERVICES BUSINESS IN GERMANY AMOUNTING TO A TOTAL OF EUR 9.3 MILLION

* ‍Changes Its Financial Outlook for 2017​

* TELESTE OYJ - DUE TO NEGATIVE PROFITABILITY DEVELOPMENT IN SERVICES BUSINESS IN GERMANY, TELESTE MAKES EUR 7.7 MILLION IMPAIRMENT IN GOODWILL WHICH WILL BE REPORTED IN TELESTE'S HALF YEAR FINANCIAL REPORT

* ‍ ESTIMATES THAT NET SALES FOR 2017 WILL BE LOWER THAN IN 2016 AND THAT OPERATING PROFIT FOR 2017 WILL BE CLEARLY LOWER THAN IN 2016​

* 2017 OPERATING PROFIT FOR SECOND HALF OF YEAR IS ESTIMATED TO BE CLEARLY BETTER THAN THAT FOR FIRST HALF OF YEAR Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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