Waste management company Transpacific Industries Group Ltd
(ASX:TPI) says it now expects operating profit in fiscal 2009 to be nine per cent lower than fiscal 2008.
Earnings before interest, tax, depreciation and amortization, is expected to be approximately $447 million.
Transpacific says reported earnings before interest, tax, depreciation and amortization is expected to be around $455.7 million, including $8.7 million in profit from its purchase of Transpacific convertible notes reported in the company’s first half results.
The company forecast a 25 per cent decline in earnings for the second half of this year from $255.7 million recorded in the first half.
With profit in the second half impacted by significant items and one-off charges of around $210.3 million.
Transpacific Industries Group’s profits have been increasing year on year for the past four years.
