March 19, 2020 / 7:23 AM / 14 days ago

BRIEF-Auto Trader Sees Operating Loss For April In Range Of 6 Mln Stg To 7 Mln Stg

March 19 (Reuters) - Auto Trader Group PLC:

* FULL YEAR RESULTS FOR FINANCIAL YEAR ENDING 31 MARCH 2020 WILL BE BROADLY IN LINE WITH MARKET EXPECTATIONS.

* CURRENT TRADING AND IMPACT OF COVID-19

* DUE TO CURRENT MARKET CONDITIONS, CANNOT SENSIBLY PROVIDE GUIDANCE FOR FINANCIAL YEAR 2021

* WILL NOT CHARGE RETAILER CUSTOMERS FOR THEIR ADVERTISING PACKAGES DURING APRIL

* WILL ALLOW CUSTOMERS TO DEFER PAYMENT OF THEIR MARCH ADVERTISING COSTS BY 30 DAYS

* ACTIONS WILL RESULT IN AN OPERATING LOSS FOR APRIL IN RANGE OF £6M - £7M

* TO NOT BUYBACK FURTHER SHARES UNTIL FY RESULTS IN JUNE, RETAIN COMMITMENT TO RETURN CASH TO SHAREHOLDERS Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below