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Glaston lowers its outlook

Glaston has announced it has lowered its outlook for 2016. The increasing caution evident in the glass processing market in the first half of the year and the uncertain outlook in the market environment have slowed customers’ investment decisions among others in Great Britain.

The glass processing market is also expected to remain challenging in the second half of the year.
Market uncertainty and extended decision-making times will impact the development of both net sales and operating profit.
Revised outlook:
Glaston expects that 2016 net sales will be approximately EUR 105 -110 million and that operating profit, excluding non-recurring items, will be approximately EUR 2 – 4 million. (In 2015 net sales were EUR 123.4 million and comparable operating profit, excluding non-recurring items, was EUR 6.1 million).
Previous outlook:
We expect 2016 net sales to be slightly below the 2015 level and that operating profit, excluding non-recurring items, will be at the 2015 level. (In 2015 net sales were EUR 123.4 million and comparable operating profit, excluding non-recurring items, was EUR 6.1 million).

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