Vergnet warns of FY opg loss as it cuts sales guidance |
|
|
|
Published
:
Mon, 15 Oct 2007 10:42
|
PARIS (Thomson Financial) - Vergnet Groupe, France's only wind turbine manufacturer, warned that it expects a full year operating loss of 0.8-1.2 mln eur, versus a previous forecast of profit of 1.7 mln eur, because of a reduction in its guidance for full year sales.It lowered its 2007 sales prediction to 30-32 mln eur from 40.4 mln in the light of weaker than expected second half export activity for wind farm equipment.The revision stems from a delay in several projects which can no longer be included in 2007 accounts even if they are confirmed by year-end, Vergnet said.For 2008, it is still targeting sales of 38 megawatts of equipment, amounting to revenues 66.2 mln eur. It has signed 28 options and is continuing discussions with several players in the sector, the company said.Vergnet announced first half results in line with its expectations.The net loss narrowed to 0.4 mln eur from a loss of 0.9 mln a year earlier as sales grew to 12.5 mln eur from 12.0 mln. The first half normally represents only 25-35 pct of full year sales because of a seasonality in orders due to the tax regime for development of wind farms, it said.At 11.25 am, Vergnet shares were down 2.33 eur or 13.82 pct at 14.52 eur as the Next-150 index gained 4.10 points or 0.21 pct to 1,952.92.Vergnet floated in June at 13.85 eur per share.Andrew.Newby@Thomson.coman/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
Print this Story
Paris shares TFN at a glance outlook 