March 23, 2020 / 5:20 PM / 16 days ago

Thyssenkrupp scraps 2019/2020 profit guidance, blames coronavirus

FRANKFURT, March 23 (Reuters) - German conglomerate Thyssenkrupp on Tuesday scrapped its 2019/2020 profit outlook, blaming the economic downturn triggered by the spread of the corona virus. “Due to the global spread of the COVID-19 pandemic and the resulting impact on the economy, Thyssenkrupp AG currently is not able to provide a reliable assessment of the business development of the group for the 2019/2020 financial year,” Thyssenkrupp said. (Reporting by Edward Taylor Editing by Ludwig Burger )

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