HYD hydrix limited
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News: HYD Hydrix Announces Withdrawal FY20 Guidance

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    09/04/20
    19:45
    Post #: 43980811

    April 9 (Reuters) - Hydrix Ltd (HYD) :

    • WITHDRAWN ITS FY20 GUIDANCE
    • SEES SOME SLOWING AND DEFERRAL OF CONTRACTS, BUT AT THIS POINT, NO CONTRACTS HAVE BEEN CANCELLED
    • COMPANY ANTICIPATES SOME PROJECTS UNDER EXISTING CONTRACTS MAY BE SLOWED DOWN DUE TO PANDEMIC
    • AS AT 31 MARCH 2020, CASH ON HAND WAS $2.1 MILLION
    • DUE TO DEFERED AND SLOWED DOWN PROJECTS THERE IS LIKELY TO BE A REDUCTION IN REVENUE FOR SERVICES DIVISION, IN NEAR TERM PROEJCTS
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