Lehto Group Plc: Lehto Group Plc Gives More Precise Financial Outlook for 2016
Lehto Group Plc
Stock Exchange Release
November 11, 2016 at 15.30:00 EET
Lehto Group Plc Gives More Precise Financial Outlook for 2016
Lehto Group Oyj gives more precise financial outlook for 2016. The reason for revised outlook is the better progress in business premises and housing projects than expected.
New outlook for 2016:
In 2016 growth in net sales is estimated to be about 20-25 % compared to the year 2015 (EUR 275,6 million in 2015) and operating profit is estimated to be about 10 - 11 % of the net sales.
The key factors affecting net sales and operating profit are the recognition based on delivery of developer contracting housing production, the number of apartments sold, as well as start and sales of social care and educational premises and other business premises projects.
Previous outlook reported in half-year financial report 2016 (18 August 2016):
In the strategy period 2016-2020 the company's target for average annual growth in net sales is about 10-15%.
In 2016 growth in net sales is estimated to be at the least in accordance with the average growth target, and operating profit is estimated to be about 8-10% of net sales. The accumulation of both net sales and operating profit are estimated to focus more on the second half of 2016.
For more information:
Veli-Pekka Paloranta, CFO
+ 358 400 944 074
Lehto Group in brief
Lehto Group is a Finnish construction and real estate group focusing on economically driven construction. The company's mission is to be an innovative reformer of the construction industry. The company has divided its operations into four service areas: Business Premises, Housing, Social Care and Educational Premises and Building Renovation. Lehto Group currently operates in Finland and is geographically concentrated in growth centres which form a significant part of the construction volume. The company's headquarters are located in Kempele. The company's net sales in financial year 2015 was approx. EUR 276 million and the company employed 423 people at the end of the financial year 2015.