iSelect Limited
(ASX:ISU) says it has had to revise its earnings guidance for FY2016, as a result of several strategic and operational issues across FY 2015.
As such, the company has updated FY2016 earnings guidance of EBIT $15 to $18 million on a normalised basis.
The company says as previously disclosed to the market, H1 of FY2016 was impacted by management decisions to maintain seasonally high June staffing levels through a seasonally low H1 period.
Following an in-depth review by iSelect, other issues were indentified including delays in updating and investing in new iSelect brand creative and enhanced marketing assets.
iSelect reported a net profit of $9.64 million at 30 June 2015.
