GfK adjusts 2016 guidance following disappointing first half
The AOI margin (adjusted operating income in relation to sales) is down from 9.5% to 8.2%. Therefore, the company says, "it is no longer likely that sales growth of the group will outperform the market and that the AOI margin will considerably improve as compared to the prior year".
In the first half of 2016, sales in the consumer experiences sector fell short of the company’s expectations, and resource and cost reduction measures were unable to fully offset the resulting AOI decline.
As a result of this, and a reduced outlook for the consumer experiences sector, GfK is to "book a goodwill impairment of approximately €139m in the second quarter".
The half year report will be published on August 12.
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