Home » Business » DO&CO with profit warning – dividend canceled | 04/05/20

DO&CO with profit warning – dividend canceled | 04/05/20

At the listed catering company DO&CO, 650 employees have already been sent on short-time work and 150 have been dismissed.

On Friday evening, DO&CO also has a profit warning
published for the current financial year.

“In view of the massive reduction in global flight offers
due to the ongoing COVID-19 pandemic, and therefore of
Authorities imposed restrictions and bans on events
and the operation of restaurants, sales and
Analysts’ earnings expectations for April 1,
Fiscal year 2020/2021 could not be achieved, “said one
Message.

In order to maintain operations, the board ”
Comprehensive package of measures to save personnel and
Material costs decided that is already being implemented “.

Furthermore, it can be assumed that the positive operational
Earnings for the 2019/20 financial year due to special charges that
out of the crisis and its consequences on business
result, become impaired. DO&CO was in the
past weeks “sufficient liquidity from today’s perspective
secured to ensure the continued existence “.

An outlook for the current business year can “because of the
ongoing and strong momentum of the pandemic
evoked development “are not given.

The general meeting for July 15 is due to the
Meeting ban canceled A new appointment will be in time
announced. There should be no dividend: the board has
decided to propose this to the General Meeting.

APA

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