Aug 18 (Reuters) - Coles Group Ltd (COL) :
- OCADO CFC PROJECT UPDATE
- COLES HAS RECEIVED NOTIFICATION FROM OCADO REGARDING DELAYED TIMING FOR HAND OVER OF VICTORIAN CFC
- ADDITIONAL WORKS ARE REQUIRED TO RECTIFY CONSTRUCTION ISSUES WITH GRID IDENTIFIED DURING QUALITY CONTROL PROCESSES FOR VICTORIAN CFC
- COMMISSIONING OF VICTORIAN CFC WILL BE DELAYED WITH INCREMENTAL RAMP UP PERIOD NOW EXPECTED TO COMMENCE IN MID-FY25
- TIMING FOR NSW CFC BEING BUILT BY OCADO IS EXPECTED TO BE COMMISSIONED WITH AN INCREMENTAL RAMP UP PERIOD COMMENCING END 2H FY24
- IMPACTS OF DELAYS ARE LIKELY TO INCREASE PROJECT CAPITAL AND OPERATING EXPENDITURE BY A$70 MILLION AND A$50 MILLION RESPECTIVELY
- CAPITAL EXPENDITURE IS NOW EXPECTED TO BE A$400 MILLION OF WHICH 55% HAS BEEN INCURRED TO END OF FY23
- BALANCE OF TOTAL CAPITAL EXPENDITURE A$400 MILLION EXPECTED TO BE INCURRED IN FY24 AND FY25
Aug 18 (Reuters) - Coles Group Ltd (COL) : OCADO CFC PROJECT...
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