Goldbach Media: EBIT decline of 15 percent expected
Goldbach Media has issued a profit warning. The reasons cited are difficult market conditions in Eastern Europe and increasing pressure on margins in the online business.
The advertising marketer for electronic media is forecasting a decline in EBIT of around 15 percent for 2009. Despite a recessionary advertising market and negative currency effects, sales growth of more than 10 percent is expected, according to a press release issued on Friday morning.
Stock market traders disappointed
Goldbach Media had already revised its forecast slightly downwards when it published its half-year results, expecting double-digit sales growth and a single-digit increase in EBIT. According to SDA, stock market traders reacted with disappointment. Goldbach Media shares plummeted by 13.5 percent on Friday morning. This was despite the Group announcing another strong increase in sales and significant EBIT growth for 2010.
Stock market traders disappointed
Goldbach Media had already revised its forecast slightly downwards when it published its half-year results, expecting double-digit sales growth and a single-digit increase in EBIT. According to SDA, stock market traders reacted with disappointment. Goldbach Media shares plummeted by 13.5 percent on Friday morning. This was despite the Group announcing another strong increase in sales and significant EBIT growth for 2010.
