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Share Name | Share Symbol | Market | Type |
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Stonepath Grp. | AMEX:STG | AMEX | Ordinary Share |
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Company Announcement No.23/2017 |
24 AUGUST 2017
Interim Report
1 january-30 JUNE 2017
Financial performance in line with expectations - FY guidance maintained
Highlights for THE SIX MONTHS TO 30 JUNE 2017
Highlights for THE SECOND QUARTER OF 2017
Financial Guidance 2017
FY 2017 guidance of slightly negative organic net sales growth and negative organic growth in adjusted EBITDA of 4-8% unchanged.
STATEMENT BY CEO NIELS FREDERIKSEN:
"Our overall financial performance in the second quarter was in line with our expectations. We are seeing an improved trajectory for machine-made cigars in Europe supported by more stable market dynamics. Our branded handmade cigars business is performing well, but the category remains impacted by the challenges in Cigars International. We are making steady but slow progress in our efforts to remedy the situation. Our cash generation remains strong, and we delivered a free cash flow of DKK 251 million in the quarter."
For media enquiries: Kaspar Bach Habersaat Director of Group Communications +45 7220 7152 or kaspar.bach@st-group.com | For investor enquiries: Torben Sand Head of Investor Relations +45 7220 7126 or torben.sand@st-group.com |
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