Bradken Limited
(ASX:BKN) has released its earnings guidance for the first half of the financial year following the settlement of a Federal Court dispute.
The company says it’s expecting earnings before interest, tax, depreciation and amortisation of around $85 million for the current half of the 2014 financial year, down from $105 million in the previous corresponding period.
In a separate note, it also advised that the company and two of its directors, including former New South Wales premier Nick Greiner, had settled a dispute with mining parts company Norcast for an undisclosed amount.
The company told shareholders at its annual general meeting last month that the first half of 2014 would be quite challenging.
However it says that it still expects its full-year earnings to be broadly comparable to the previous financial year.
Bradken generated a net profit of $66.9 million in fiscal 2013.
