Profit warning from PEN Concept Group
PEN Concept Group AB, that reported a negative EBIT of 6,7 MSEK during first half year 2017, is unlikely to generate a positive operative result for the full year as planned. It is probable that the full year EBIT will be in line what has been reported during the first half year. Actions are in place to strengthen sales work but also to lower running costs.
Johan Burtus, CEO at PEN Concept Group, explains:
“We took actions from our first half year result by reviewing our cost efficiency while strengthening sales capacity. This process takes however longer time than first anticipated. On the positive side is that the demand of our products and services remains high and we estimate to resume profitability during 2018.”
For any inquiry regarding this transaction, kindly contact:
Johan Burtus, CEO, PEN Concept Group AB
Phone: +46 738 000 460
This information is insider information that PEN Concept Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on October 31, 2017.
PEN Concept Group in brief
PEN Concept Group AB is a turnkey of interior and products for shops, exhibitions, events, restaurants and showrooms. The group runs its business through its Swedish subsidiaries PEN Interiör AB in Jönköping, PEN Shop Concept AB in Lerum and GOODS Sweden AB in Växjö. In China, sales and manufacturing is located to Qingdao where the subsidiary Oboya Shop Concept Qingdao Co., Ltd. is located.