SRS 0.00% 7.1¢ spicers limited

gorilla lights cigar at 75c

  1. 56,516 Posts.
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    ...already known IMO. Screen is beeping. 3K & 300 player all over it. Maryvale upgrade completed.

    Hope the cigar is not laced with explosives as she has risk.

    Sydney - Friday - December 19: (RWE Aust Business News) -
    PaperlinX (ASX:PPX) advises that some of the key European asset sales
    planned for completion by 31 December are now expected to complete
    early in the New Year.
    The absence of the anticipated profit contribution from these
    sales will result in PaperlinX breaching previously agreed lending
    covenants for the period ending 31 December.
    This possible outcome was referred to in the Prospectus dated 7
    October.
    PaperlinX is in discussions with financiers to address this
    issue.
    Earnings for the period are now expected to be more than 15pc
    below the prior corresponding period.
    The sale program of pan-European properties announced in
    February has continued, with $90 million cash received from this program
    through to the end of November, with additional transactions recently
    completed in the UK, Netherlands and the Czech Republic.
    Lending covenants have come under pressure during the current
    half year as a result of the investment on the recently completed
    Maryvale Mill pulp upgrade with minimal related earnings contribution.
    In the second half earnings will benefit from increased
    incremental benefits from the Maryvale Mill pulp upgrade along with
    recent increases to Australian dollar pricing, translation of overseas
    earnings, and improved receipts from the sale of Australian exports.
    Volatility and deterioration in general external conditions
    could also negatively impact earnings, while factors specific to the
    global paper market, currency movements and company initiatives
    including the previously announced profit protection plans could also
    impact outcomes.
 
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