Brief: Heiq Sees Group Revenue For FY 2022 To Be About 20% Below Market Expectations

Heiq

04/01/2023 07:19

Jan 4 (Reuters) - Heiq PLC  HEIQ.L :
    * HEIQ PLC  - TRADING UPDATE AND ACQUISITION
    * HEIQ PLC - HEIQ MADE SOLID PROGRESS IN FIRST HALF OF
FINANCIAL
YEAR, REPORTING A 17% INCREASE IN REVENUES
    * HEIQ PLC -  EXPECTS THAT GROUP REVENUES FOR FY 2022 WILL
BE
APPROXIMATELY 20% BELOW MARKET EXPECTATIONS AT BETWEEN US$ 54M
TO US$ 55M
    * HEIQ PLC -  EXPECTS A LOSS BEFORE TAX OF BETWEEN US$ 2.5M
AND
US$ 3.5M FOR FY 2022
    * HEIQ PLC - EXPECTS TRADING FOR FY 2023 TO BE BELOW MARKET
GUIDANCE, WITH ANTICIPATED SALES AND GROSS MARGINS MAINTAINED AT
FY 2022 LEVELS
    * HEIQ  - ANNOUNCES THAT HEIQ MATERIALS AG, SWITZERLAND, A
100%
SUBSIDIARY OF HEIQ PLC SIGNED AN AGREEMENT TO ACQUIRE TARN-PURE
HOLDINGS
    * HEIQ PLC - COMPANY HAS STARTED TO IMPLEMENT COST SAVINGS,
WILL
CONTINUE TO REVIEW AND ADAPT ITS COST BASIS WITH OBJECTIVE OF
RETURNING TO PBT IN FY23

Source text for Eikon:  ID:nRSD5801La 
Further company coverage:  HEIQ.L 
 ((Reuters.Briefs@thomsonreuters.com;))