Wolford issues profit warning

After presenting the Christmas business and in light of the ongoing market weakness in January 2019, the management board of Wolford Ag has announced that it does not expect the company to achieve positive operating earnings (EBIT) in the current 2018/19 financial year. The board has therefore revised its previous forecast and now anticipates a loss in the 2018/19 financial year.

During its first half results announcement, confirming its outlook for the current financial year in spite of the weak revenue development in the first half-year, the company had said because of commencement of the third quarter of the year which traditionally generates the highest revenue and cost savings, there will be a positive operating earnings (EBIT) in the current 2018/19 financial year.