DES desoto resources limited

No idea why today'sannouncement may be construed as being good...

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    No idea why today'sannouncement may be construed as being good news for shareholders.

    Sydney - Monday - June 16: (RWE Aust Business News) - destra Corp
    (ASX:DES) said today its financial performance for the six
    months ending 30th June 2008 will be adversely affected by significant
    non-recurring items and a deterioration in operating performance in the
    current economic environment across key business lines.
    As a result, the estimate of earnings before interest, tax,
    depreciation and amortisation (EBITDA) for the second half is a loss of
    between $2.5 million and $3.5m before impairment charges.
    The full year EBITDA estimate is a profit of between $2.5m and
    $3.5m before impairment charges.
    Adverse non-recurring items are estimated to amount to $2.5m for
    the second half and include the loss on sale of investment in Beyond
    International and restructuring and severance costs as a result of the
    rationalisation of operations and management structure.
    Significant factors contributing to the weaker than expected
    trading performance of the Entertainment division include a deteriorating
    economic environment, lower than expected volume of theatrical releases
    and a disappointing theatrical result from the feature film August Rush
    and seasonally low retail sales volumes leading to abnormally high sales
    returns from retail distribution outlets.
    The company will also recognise non-recurring expenses
    relating to the integration of the warehousing and distribution
    facilities in its DVD operating divisions the benefits of which will flow
    into future periods.
 
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