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ContourGlobal maintains guidance and dividend policy

The company said it is experiencing no material operational or financial impact as a result of the coronavirus pandemic and current trading is in line with expectations.

Electricity pylons

ContourGlobal PLC (LON:GLO), the power generator, has maintained its earnings guidance for 2020 after publishing “a strong set of results” for the first quarter.

Adjusted underlying earnings (EBITDA) in the first quarter rose 20% to US$172.7mln from US$144.4mln in the same period of 2019.

The company said it is experiencing no material operational or financial impact as a result of the coronavirus pandemic and current trading is in line with expectations.

The company has reiterated its guidance for adjusted EBITDA this year of somewhere between US$710mln and US$745mln and committed to increasing its dividend by 10% each year.

Quick facts: ContourGlobal PLC

Price: 190.2 GBX

LSE:GLO
Market: LSE
Market Cap: £1.27 billion
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