Glaston has lowered its outlook for 2016 as a result of an uncertain market environment, such as in the UK.
It said the increased caution in the glass processing market in the first half of the year had slowed customers’ investment decisions.
“The glass processing market is also expected to remain challenging in the second half of the year,” it stated.
“Market uncertainty and extended decision-making times will impact the development of both net sales and operating profit.”
Glaston expects that 2016 net sales will be approximately €105 -110 million and that operating profit, excluding non-recurring items, will be approximately €2 - 4 million.
In 2015 net sales were €123.4 million and comparable operating profit, excluding non-recurring items, was €6.1 million.
It expects 2016 net sales to be slightly below the 2015 level and that operating profit, excluding non-recurring items, will be at the 2015 level.
In 2015 net sales were €123.4 million and comparable operating profit, excluding non-recurring items, was € 6.1 million.
