12:00 London, 14:00 Helsinki, 27 April 2017 - Afarak Group Plc ("Afarak" or "the Company")
PROFIT WARNING: AFARAK EXPECTS SIGNIFICANTLY BETTER QUARTER ONE RESULTS
Afarak increased its revenue substantially in Q1/2017 when compared to Q1/2016. The increase in chrome ore and ferrochrome market prices and Afarak's progression in production, both in Germany and in South Africa, contributed significantly to this improved performance.
It is expected that quarter one results for 2017 will be among the highest recorded for the company since it entered the mineral business. The EBIT is expected to reach a level of not less than € 10 Million.
Afarak will publish its interim report for the first quarter of 2017 on May 12th, 2017.
Afarak Group plc
The Board of Directors
For additional information, please contact:
Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com
Melvin Grima, Finance Director, +356 2122 1566, melvin.grima@afarak.com
Jean Paul Fabri, PR Manager, +356 2122 1566, jp.fabri@afarak.com
