Shares in Shine Corporate Limited
(ASX:SHJ) have been placed into a trading halt at the request of the company.
The trading halt was requested pending the finalisation of the company’s review of its work in progress recovery rates and provisioning and the impact of this on the FY2016 EBITDA guidance.
The company stated on Monday it expects a material reduction in its previous FY2016 EBITDA guidance pending the finalisation of this review.
Shares in Shine Corporate will remain in a trading halt until the commencement of trade on Thursday 21 January or when an announcement is made.
Shine Corporate recorded a net profit of $29.63 million at 30 June 2015.
