News: MWY Midway Says Cash Flow Will Be Adversely Impacted By Global Market Slow Down in Fy20

Oct 29 (Reuters) - Midway Ltd (MWY) :

• SHORT-TERM OUTLOOK FOR FY20 ADVERSELY AFFECTED BY EXCESS PRODUCTION & STOCKS OF PAPER PULP IN BRAZIL & US TARIFFS ON CHINESE PAPER IMPORTS
• EXPECTS FIRST HALF EBITDA IN FY20 WILL BE MORE THAN 50 PER CENT LOWER THAN PREVIOUS CORRESPONDING PERIOD
• EXPECT FULL YEAR EBITDA TO BE MATERIALLY LOWER THAN CONSENSUS FORECASTS FOR FY20
• WRITE-DOWN OF ADDCO INVESTMENT OF $2.0 MILLION WILL AFFECT STATUTORY NET PROFIT IN FIRST HALF OF FY20
• CASH FLOW WILL BE ADVERSELY IMPACTED BY GLOBAL MARKET SLOW DOWN IN FY20