Nomad Foods Cuts Annual Guidance On Temporary ERP Disruption

(RTTNews) - Nomad Foods Ltd. (NOMD), a British frozen food company, on Thursday revised down its annual outlook, following a temporary ERP disruption.

Stefan Descheemaeker, CEO of Nomad, said: "Our service levels were negatively impacted during the transition but are returning to near normal levels. The impact, however, has caused us to lower our full year organic sales growth outlook."

For the full year, the company now expects adjusted income per share of 1.72 euros to 1.77 euros, compared with prior expectation of 1.75 euros to 1.80 euros.

Nomad now expects adjusted EBITDA to grow 3 percent to 5 percent against the earlier outlook of 4 percent to 6 percent.

Organic revenue growth is now anticipated to be 1-2 percent, versus the 3 - 4 percent in the prior guidance.