Sequoia Financial Group Limited [ASX: SEQ] (“Sequoia” or “The Group”) wishes to provide a business update on current trading conditions along with profit guidance based on unaudited 1H23 financial results.
The Group advises that 1H23 EBITDA has been negatively impacted by several abnormal items affecting short term performance.
Below is a breakup of this half year performance as we move into 2H23 and beyond.
First Half Results
The Group continues to perform in line with long term expectations however notes that it has fallen below budget expectations for this half year. As a result, the Group’s 1H23 EBITDA is now expected to be around $3.2M, with the shortfall of 40% to EBITDA budget resulting from a number of one-off issues.
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