Bloomberg News

Gategroup Falls on Lower Outlook for Profitability in 2011, 2012

November 23, 2011

Nov. 23 (Bloomberg) -- Gategroup Holding AG fell as much as 21 percent in Zurich after the Swiss airline catering company lowered its 2011 profit target on a slowdown in Europe and North America.

Profitability won’t improve in 2012, and 2011 earnings before interest, tax, depreciation and amortization will probably be 7.4 percent to 7.7 percent of sales, the Kloten- based company said in a statement today.

Link to Statement:{NSN LV3NFR3PR6RK <GO>}

To contact the editor responsible for this story: Thomas Mulier at tmulier@bloomberg.net


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