GIGROUP (GIG): Adjustment of the forecast of EBIT results of the Work Service Capital Group - raport 10

Raport bieżący nr 10/2018

Podstawa Prawna:
Art. 17 ust. 1 MAR - informacje poufne.

The Management Board of Work Service S.A. (“Company”) hereby provides the following information on the decision taken today to adjust the previously presented forecast with respect to the expected EBIT level, i.e. consolidated operating profit (before taxation) for the Work Service Capital Group (the “Group”) for the financial year 2017.

On 6 June 2017, the Company published its EBIT forecast for 2017 in its report no. 48/2017. On 29 November 2017, the Company adjusted the EBIT forecast for 2017 in the report no. 83/2017 in such a way that the expected EBIT level for the Group for 2017 after adjustment of 29 November 2017 amounted to PLN 68,000 thousand. The forecast was not reviewed by a statutory auditor.

The Company decided to adjust the above forecast of 29 November 2017, taking into account the conclusions of the recommendation of the Company’s auditor concerning the introduction of appropriate adjustments to the Group's consolidated annual financial statement, which will consequently affect the Group’s EBIT for the financial year 2017. The Company, considering the possibility of the adjustment to occur as probable, proceeded to reconcile with the auditor the final size (amount) of the adjustment; according to the information currently available to the Management Board, it will not be lower than PLN 24,000 thousand. The value of the adjustment does not affect the current operating activity of the Group.

In connection with the above, the Management Board, when analysing the assumptions of forecast and the selected financial data for 2017, adjusts the forecast as regards the expected EBIT level, i.e. consolidated operating profit (before taxation) for the Group, to the level of PLN 43,000 thousand.

The final EBIT value will be presented in the Group's consolidated annual financial statements as a part of the relevant annual report to be published on 27 April 2018.

Legal basis:

Article 17 sec. 1 MAR (Regulation No. 596/2014 of the European Parliament and of the Council (EU) of 16 April 2014 on Market Abuse (Regulation on Market Abuse) and revoking Directive 2003/6/EC of the European Parliament and Council and of the Directive of the Commission 2003/124/EC, 2003/125/EC and 2004/72/EC.)

Signatures:

Tomasz Ślezak – Vice-President of the Management Board

Krzysztof Rewers – Vice-President of the Management Board