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Lehto Group withdraws guidance on 2020 financial outlook due to COVID-19 pandemic uncertainty.

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NORDIC BUSINESS REPORT-April 8, 2020-Lehto Group withdraws guidance on 2020 financial outlook due to COVID-19 pandemic uncertainty

(C)2020 M2 COMMUNICATIONS http://www.m2.com

Lehto Group Oyj (Lehto) (HEL:LEHTO), a provider of construction services, announced on Tuesday that due to the uncertain business environment caused by the COVID-19 pandemic, it is temporarily withdrawing the guidance on 2020 financial outlook given on 20 February 2020. Lehto estimates that the new guidance could be given later this year.

According to Lehto, the COVID-19 pandemic has created uncertainty in its business environment and the visibility has weakened. So far Lehto's projects have progressed nearly without interruptions but starts of some new projects are delaying because of decisions made by the customers. The company sees risks related to sales, project execution and availability of materials, subcontracting...

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