Texaf, S.A. Announces Unaudited Consolidated Earnings Results for the First Half Ended June 30, 2014; Provides Earnings Guidance for 2014
For 2014, one of the Group's main customers, an international agency, is redeploying a large portion of its employees to the East of the country and has given notice of its intention to vacate around 2/3 of the warehouses that they occupy, from the start of 2015. In the short term, the loss of revenue due to this partial departure is estimated, at this stage, at 1.28 million and will be offset by the new projects mentioned above. Nevertheless, the Group is viewing this departure as an opportunity in the medium term to redevelop significant premises that were rented out at low rates per m2.