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Teleste aims to sell German Cableway services ops, says Q1 net sales drop 11%

2020-05-15 09:56:00| Telecompaper Headlines

(Telecompaper) Finnish software provider Teleste said it has decided to sell its Cableway services businesses in Germany and has announced an 11.4 percent drop in first quarter net sales with an 18.3 percent fall in adjusted operating profit. Selling the German services business operations aims to safeguard Teleste's financial position ability to invest in growth areas. Teleste said if restrictions on movement to curb coronavirus stay in effect until the end of Q2 the negative impact on its FY net sales would be significant. [ more ]

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