Seymour Whyte updates market guidance

Company News

Seymour Whyte Limited (ASX:SWL) has announced it has updated its previously forecasted market guidance reported on the 24th of February 2016.
The company now anticipates its net profit after tax for FY16 to be between $1 million and $2 million and notes a number of sector pressures as contributing factors to the revised guidance.
CEO John Kirkwood has indicated a comprehensive program of work is underway to further improve efficiencies, with opportunities also being identified to regain profits across existing projects.
The company has recently secured $52 million in new work from Roads and Maritime Services and has stated it is in a strong position to see through the current short-term challenges.
Seymour Whyte Limited reported a net profit of $213,000 at 31 December 2015.