FLI
29/01/2016 08:30
FORECAST
PRICE SENSITIVE
REL: 0830 HRS Fliway Group Limited
FORECAST: FLI: Fliway Group Upgrades Earnings Guidance
Fliway Group Upgrades Earnings Guidance and Sets Date for Announcement of
FY2016 Interim Results
The directors of Fliway Group Limited (NZX: FLI) have raised Pro Forma EBIT
guidance, for the six months to 31 December 2015, to between $4.9 million and
$5.2 million, an increase over the prospectus forecast Pro Forma EBIT ($4.3
million) of between 15% and 20%. The resulting Pro Forma NPAT is expected to
be between $3.3 million and $3.5 million (compared with the prospectus
forecast of $2.9 million).
In comparison to the results forecast in the prospectus issued 6th March 2015
for the 12 months to 31 December 2015, Pro Forma EBIT is expected to be
between $8.0 million and $8.3 million, an increase over the prospectus
forecast Pro Forma EBIT ($7.1 million) of between 12.5% and 16.5%. The
resulting Pro Forma NPAT is expected to be between $5.0 million and $5.2
million (compared with the prospectus forecast of $4.5 million).
Key highlights include:
o At the earnings level all divisions traded either in line or ahead of
prospectus forecasts for 12M to December 2015.
o Payback on significant capital expenditure invested ahead of the listing
has been validated in the results via the lower operating cost base and
strong capacity management.
o Cashflows are ahead of prospectus forecast and are expected to result in
net debt being 25% to 30% lower than the prospectus forecast of $8.9 million.
o As communicated at the AGM, we continue to experience softer revenues. This
reflects lower fuel costs, lower international shipping rates and a
challenging trading environment.
Fliway Group Limited (NZX: FLI) advises that the Company's unaudited
financial results for the 6 months to 31 December 2015 will be announced on
Tuesday 23 February 2015.
For enquiries, please contact:
Jim Sybertsma
Chief Financial Officer
Fliway Group Limited
P 09 255 4600
M 0275 716 464
End CA:00276943 For:FLI Type:FORECAST Time:2016-01-29 08:30:21
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