Concentric AB announces a restatement of segmental reporting
SKÅNES FAGERHULT, Sweden, May 2, 2022 /PRNewswire/ -- Following the acquisition of EMP and an internal organisation and reporting review, the Board of Directors has decided Concentric AB will report by technology segments, namely Engines and Hydraulics, rather than geographical regions, which is consistent with both how the business will be managed and reported internally in the future. The Engine division will include all Concentric, Licos and EMP branded engine products, including royalties and net income from our joint venture, Alfdex. The Hydraulics division will include Concentric and Allied branded hydraulic products.
This change is effective from 1 January 2022 and comparative quarterly financial information for 2021 has been restated.
CONTACT:
For additional information please contact Marcus Whitehouse, telephone +44-121-445 6545
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Concentric AB announces a restatement of segmental reporting |
SOURCE Concentric AB
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