BRIEF-April expects FY EBIT to decline by 18 pct to 21 pct

viernes 2 de enero de 2015 12:47 GYT

Jan 2 (Reuters) - April SA :

* Says deteriorating results in the 2nd half. Exceptional items recorded at end of the fiscal year. Recurring EBIT margin c. 10 percent

* Expects 2014 pro forma sales to decline by -1 percent to -2 percent

* FY current EBIT is expected to decline by -12 percent to -15 percent

* Non-Current items also had a negative impact on FY EBIT, which should decline by -18 percent to -21 percent

* In La Reunion, group has recently proceeded to rescind a business as general agent in order to concentrate on its historical brokerage business

* This arrangement will nevertheless impact FY non-current operating expenses for amount of 5 million euros ($6 million)

* Cost of closing down activity in Argentina and stopping operations in Belarus will have impact of 2 million euros

* Remains confident in solidity and relevance of its economic model and reaffirms continuity of its multi-specialist strategic approach Source text for Eikon: Further company coverage: ($1 = 0.8319 euros) (Gdynia Newsroom)