May 11, 2020 / 7:53 AM / 18 days ago

BRIEF-GK Fasing FY Net Profit Down At 14.4 Mln Zlotys

May 11 (Reuters) - Fabryki Sprzętu i Narzędzi Górniczych Grupa Kapitałowa Fasing SA:

* REPORTED ON SATURDAY FY NET PROFIT OF 14.4 MILLION ZLOTYS VERSUS 21.3 MILLION ZLOTYS YEAR AGO

* FY REVENUE 205.8 MILLION ZLOTYS VERSUS 213.3 MILLION ZLOTYS YEAR AGO

* FY OPERATING PROFIT 28.5 MILLION ZLOTYS VERSUS 31.9 MILLION ZLOTYS YEAR AGO

* ON CORONAVIRUS: THE COMPANY DOES NOT CURRENTLY SEE ANY THREAT FOR CONTINUING ITS OPERATIONS DUE TO INCREASING NUMBER OF ORDERS IN THE MARKET OUTSIDE MINING (TRANSPORT, TRANSHIPMENT, FISHING) IN ITS KEY CLIENT FROM THIS SECTOR

* ALSO SAID THE MANAGEMENT HAS RESOLVED TO RECOMMEND ALLOCATION OF 2019 NET PROFIT TO RESERVE CAPITAL

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Further company coverage: (Gdansk Newsroom)

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