McAleese confirms FY15 earnings forecast

Company News

McAleese Limited (ASX:MCS) has confirmed its earnings guidance for the full 2015 financial year despite losing a contract with Caltex. 
 
The transport and logistics provider still expects to deliver EBITDA of between $90 million and $95 million over the year. 
 
McAleese also advised its subsidiary Cootes Transport has been unsuccessful in tendering for Caltex’s New South Wales fuel transportation contract beyond March 2015. 
 
As the contract equated to less than 2 per cent of the company's full-year EBITDA the impact is expected to be neutral to its annual net profit guidance. 
 
However, the Cootes Transport fleet will be reduced by about 75 units and about 70 employee roles have been identified for potential redeployment options. 
 
McAleese booked a net loss of $63.62 million in the 2014 financial year.