March 19, 2020 / 11:43 AM / in 12 days

BRIEF-Comptoir Group Sees Material Reduction In Financial Expectations For 2020

March 19 (Reuters) - Comptoir Group PLC:

* COMPTOIR GROUP PLC - COVID-19 UPDATE

* COMPTOIR GROUP PLC - TRADING IN JANUARY AND FEBRUARY WAS IN LINE WITH BOARD’S EXPECTATIONS.

* COMPTOIR GROUP PLC - TRADING OVER RECENT DAYS HAS HOWEVER BEEN INCREASINGLY SIGNIFICANTLY IMPACTED BY COVID-19

* COMPTOIR GROUP PLC - BOARD OF COMPTOIR HAS TAKEN DECISION TO CLOSE ITS RESTAURANTS WITH IMMEDIATE EFFECT UNTIL FURTHER NOTICE.

* COMPTOIR GROUP PLC - DIFFICULT TO ACCURATELY ASSESS EXTENT TO WHICH COVID-19 COULD IMPACT OUR TRADING AND FINANCIAL PERFORMANCE AT THIS TIME

* COMPTOIR GROUP PLC - EXPECT A MATERIAL REDUCTION IN OUR FINANCIAL EXPECTATIONS FOR 2020.

* COMPTOIR GROUP PLC - REDUCTION IN EMPLOYEE COSTS ACROSS HEAD OFFICE AND AT SITE LEVEL AND REDUCTION IN OTHER VARIABLE COSTS WHERE POSSIBLE

* COMPTOIR GROUP PLC - AS OF 18 MARCH 2020, COMPANY HAD NET CASH AT BANK OF £6.0 MILLION Source text for Eikon: Further company coverage:

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