City Chic Collective FY19 EBITDA $24-25m, sales ‘in their favour’

Company News

by Jessica Amir

Australian retailer, City Chic (ASX:CCX) is eyeing FY19 full year underlying earnings before interest, taxation, depreciation and amortisation from continuing operations of between $24 and $25 million, which is in line with analyst consensus.

Previously City Chic advised its half year (26 week) EBITDA to 30 December 2018 was $15.8 million.

It was also informed by independent experts that the sale of Millers, Katies, Crossroads, Autograph and Rivers businesses is in their favour.

The completion adjustment, as well as other non-recurring expenses associated with the divestment, will be finalised as part of its FY19 Net Profit After Tax from discontinued operations.

City Chic (ASX:CCX) shares are trading 5.74 per cent lower at $1.73
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.