AFARAK GROUP: SALE OF SAW MILL EQUIPMENT EFFECTS Q2 PROFIT FOR THE PERIOD
July 27 2017 - 2:00AM
07:00 London, 09:00 Helsinki, 27 July 2017 -
Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ:
AFAGR)
AFARAK GROUP: SALE
OF SAW MILL EQUIPMENT EFFECTS Q2 PROFIT FOR THE PERIOD
Afarak Group has concluded the sale of all the
remaining sawmill equipment acquired by the Company in 2008.
Following the announcements in 2015 and 2016, Afarak Group has
concluded the sale of the remaining parts of the equipment in Q2 of
2017.
The latest and final sale of equipment amounting
to EUR 900,000 was concluded towards the end of 2016 and the final
payment of EUR 700,000 was received in Q2/2017. This
receivable has triggered the release of a provision of EUR
619,488. As a result, this transaction will positively affect
Q2 profit for the period by EUR 1,519,488.
AFARAK GROUP PLC
Guy Konsbruck
CEO
For additional information, please contact:
Afarak Group Plc
Guy Konsbruck, CEO, +356 2122
1566, guy.konsbruck@afarak.com
Jean Paul Fabri, PR Manager, +356 2122 1566,
jp.fabri@afarak.com
Financial reports and other investor information
are available on the Company's
website: www.afarak.com.
Afarak Group is a specialist alloy producer
focused on delivering sustainable
Growth with a Speciality Alloys business in southern Europe and a
FerroAlloys
business in South Africa. The Company is listed on NASDAQ Helsinki
(AFAGR) and
the Main Market of the London Stock Exchange (AFRK).
Distribution:
NASDAQ Helsinki
London Stock Exchange
Main media
www.afarak.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Afarak Group via Globenewswire
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