TGA thorn group limited
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News: TGA Thorn Group Withdraws FY Earnings Guidance

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    03/04/20
    14:55
    Post #: 43864879

    April 3 (Reuters) - Thorn Group Ltd (TGA) :

    • REVIEW OF DEBTS NOW CONCLUDED WITH ADDITIONAL $12.8 MILLION OF DEBTS BEING WRITTEN OFF OR FULLY PROVIDED FOR IN FY ENDED 31 MARCH 2020
    • FY EARNINGS GUIDANCE HAS BEEN WITHDRAWN AND COMPANY IS NOT IN POSITION TO PROVIDE EARNINGS GUIDANCE
    • ALONG WITH IMPACT OF LOSS GIVEN DEFAULT PERCENTAGE FROM WRITE OFFS, TO INCUR ADDITIONAL LOSS EXPENSE OF $7.5 MILLION AFTER TAX
    • ADDITIONAL PROFIT & LOSS EXPENSE WILL INCREASE CO'S LOSS FOR FY
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