News: RCR RCR Tomlinson exits coal services in cost out reorganisation

April 4 (Reuters) - RCR Tomlinson Ltd (RCR) :

• RCR exits coal services in major cost out reorganisation (RCR)
• Says RCR expects FY 2016 underlying1 npat for continuing operations to remain materially consistent with current average consensus
• RCR will close fourteen local and two international unprofitable businesses as part of a re-organisation
• One-off non-recurring impact for closing the discontinued operations is currently expected to be approximately $35M for financial year
• Discontinued operations had budgeted revenue of about $100M and therefore closures come with a reduction in revenue
• RCR will be completing further reductions in fixed overhead
• One-off cost for redundancies of approximately $7M this financial year with annualised cost saving of about $12M per annum
• Other one-off non-recurring items will be around $2M in this financial year