Consti Group Plc revises its outlook for 2017 C
Post# of 301275
CONSTI GROUP PLC STOCK EXCHANGE RELEASE 15 DECEMBER 2017, at 1.30 p.m.
Consti Group Plc revises its outlook for 2017
Consti Group Plc ("Company") has revised its outlook for 2017. During the year's last quarter, the Company has continued to evaluate its project base. As a result of this evaluation, project cost assessments that lessen the Group's operating profit in the fourth quarter have been adjusted. The Company expects operating result for Q4 to be negative.
The Company's operating profit continues to decrease due to profitability problems relating to project management and execution.
New outlook: Company estimates that its total annual net sales for 2017 will grow compared to 2016 but operating profit will be significantly lower than in 2016.
Previous outlook: Company estimates that its total annual net sales for 2017 will grow compared to 2016 but operating profit will be lower than in 2016.
The Company will publish its financial statements bulletin for 2017 on Thursday, February 15th 2018.
CONSTI GROUP PLC
Further information: Esa Korkeela, Interim CEO, Consti Group Plc, Tel. +358 40 730 8568
Distribution: Nasdaq Helsinki Ltd. Major media www.consti.fi
Consti is a leading Finnish company concentrating on renovation and technical services. Consti offers comprehensive building technology, pipeline renovation, renovation contracting, façade renovation and other demanding construction and maintenance services for residential and commercial buildings. In 2016, Consti Group's net sales amounted to 262 million euro. It employs over 1000 professionals in renovation construction and building technology.
Consti Group Plc is listed on Nasdaq Helsinki. The trading code is CONSTI. www.consti.fi