March 16, 2020 / 10:07 AM / 24 days ago

BRIEF-Iceland Seafood International: Increased Uncertainty Due To COVID-19

March 16 (Reuters) - Iceland Seafood International hf :

* REG-ICELAND SEAFOOD INTERNATIONAL HF: INCREASED UNCERTAINTY DUE TO COVID-19

* OUTBREAK OF COVID-19 AND RECENT ACTIONS IN EUROPE AND UNITED STATES TO CONTROL OUTBREAK WILL IMPACT SALES AND PROFITABILITY OF ICELAND SEAFOOD INTERNATIONAL (“ICELAND SEAFOOD”) IN COMING WEEKS AND MONTHS

* FINANCIAL IMPLICATIONS ARE UNCERTAIN AND WILL DEPEND ON DEVELOPMENT AND TIMEFRAME OF RESTRICTIONS THAT HAVE BEEN SET

* MOST NOTABLE IMPACTS AT THIS STAGE ARE ON SALES TO HORECA AND FOODSERVICE SECTORS, ESPECIALLY IN SOUTHERN EUROPE, WHILST RETAIL SALES ARE EXPECTED TO REMAIN STRONG

* PROFITABILITY OF ICELAND SEAFOOD WAS IN LINE WITH EXPECTATIONS IN FIRST TWO MONTHS OF YEAR

* AT THIS STAGE IT IS UNCERTAIN HOW MUCH SALES AND PROFITS FOR YEAR WILL BE IMPACTED BY SITUATION

* ON CORONAVIRUS: WILL COMMUNICATE FURTHER ON MATTER AS LESS AMBIGUITY WILL BE ON DEVELOPMENT OF COVID-19 AND IT’S IMPLICATIONS FOR COMPANY

* SHORT TERM IMPACT IS GOING TO BE NEGATIVE, BUT AS OF NOW IT IS DIFFICULT TO PREDICT MID AND LONG TERM DEVELOPMENT Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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