WDS Limited
(ASX:WDS), today provided a further update of its preliminary earnings expectations for FY15.
- Following the receipt of the preliminary report from the independent review on WDS’ operations, the Company has reduced its previous guidance provided on 13 October 2014 of an NPAT of $1m to $3m to an underlying NPAT loss of $6m to $8m plus a one-off charge for Mining goodwill impairment of circa $5m resulting in a total statutory NPAT loss of $11m to $13m.
- Current dividend policy is suspended and no dividend will be paid. This will be reviewed after the earnings outlook has been restored and stabilised.
- With immediate effect the Board designates Mr Laurie Voyer as CEO and MD and Mr Barry Glendinning as COO and Executive Director Finance to assist Mr Ross Rolfe as Executive Chairman pending the outcome of the AGM.
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