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Epsilon AB issues profit warning.

NORDIC BUSINESS REPORT-20 January 2003-Epsilon AB issues profit warning(C)1994-2003 M2 COMMUNICATIONS LTD http://www.m2.com

The Swedish industrial IT consulting group Epsilon AB issued today (20 January) a revised forecast for the year 2002, saying that cut-downs in the automotive industry would affect the result for the end of 2002 and the beginning of 2003.

Epsilon said that preliminary figures for the year 2002 indicated that the result would fall below previous forecasts according to which it would exceed the 2001 result significantly.

The 2002 result, which included SEK10m in restructuring costs, was now expected to fall significantly below the previous year's level of EBITA of approximately SEK17m, Epsilon said.

Epsilon also said that its restructuring measures would include a reduction of the workforce by some 50 persons.

One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EUSW
Date:Jan 20, 2003
Words:155
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