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Gurit Adjusts Profit Prediction

Tasuns Composite Technology Co.,Ltd | Updated: Jan 07, 2019

Gurit has reevaluated its operating profit potential for fiscal year 2018. The company’s operating profit margin for the full year 2018 is now expected to come in at 6.5-7.5 % of net sales.

The company said that it revised the figures down from a previously communicated mid-level of the 8-10% target range to an expected 6.5-7.5% operating profit margin range for the full year 2018, based on recent business performance with continued losses in the composite components business. Without these losses in Gurit would have exceeded the margin guidance range of 8-10% in CY 2018 in its continued business, the company said.

 Gurit reports that it has decided to restructure its composite components business and to concentrate component manufacturing in Hungary in 2019. A divestment process for composite components has been initiated.