News: CDD Cardno provides market update and FY 2016 guidance

May 2 (Reuters) - Cardno Ltd (CDD) :

• Cardno provides market update and FY 2016 guidance (CDD)
• Cardno expects FY 2016 EBITDA of between A$40 million and A$45 million for

  the full year ended 30 June 2016 post the atc divestiture last November

• Second half performance has not met expectations as certain clients have

  delayed project awards

• Cardno expects FY 2016 EBITDA of between A$40 million and A$45 million for

  the full year ended 30 June 2016

• Company is exploring whether it will need to implement a capital raising

  prior to the end of the financial year

• Company does not require capital to fund its operations
• Cardno -co anticipates need for non-cash impairment charge in relation to

  intangible assets in americas business as consequence of region's underperformance