"Company anticipated EBITDA growth to exceed sales growth in FY2017 and NPAT would be higher than $69.3 million (pre-implementation costs)"
"Company now anticipates FY2017 NPAT (pre implementation costs and significant items set out below) to be between $66 million and $70 million."
Not much difference at all. The significant items below the line are the write down on sass and bide and topshop which are non-cash charges. So really this is a very small re-guidance. I wouldn't say downgrade as the guidance states $66m to $70m. Non-cash charges are non-recurring so they can minimise tax payable by writing down the two brands. Overselling today but will bounce back. Average for me is quite low and i've been offset with Santos today which is a positive.
MYR Price at posting:
73.8¢ Sentiment: Buy Disclosure: Held
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