Vita Group exceeds EBITDA guidance

Company News

by Kathy Skantzos

Sales organisation Vita Group (ASX:VTG) announced it expects to deliver EBITDA of around $20 million for the six months to 31 December 2017, exceeding the initial guidance of EBITDA in the range of $16 million to $18 million.

Full year EBITDA guidance ending 30 June 2018 has been revised to the range of $38-$43 million from $36-$43 million.

The company said the improved earnings resulted in a robust Christmas trading period for its retail channel, supported by an earlier than expected inventory allocation of iPhone 8 and iPhone X.

Group Chief Executive Officer Maxine Horne said the company is pleased with the improved outcome for the first half of the financial year and said the company is confident to deliver another solid result for FY2018.

She added the company will continue to look for cost efficiencies and improvements to serve across all its businesses.

Shares in Vita Group (ASX:VTG) are trading 5.94 per cent higher at $1.70.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.