Asaleo Care announces reduction in full year guidance | Finance News Network

Asaleo Care announces reduction in full year guidance

Company News

by Anna Napoli

Asaleo Care (ASX:AHY) has announced a reduction in full year guidance to $80 to $85 million, from a previous range of $113 to $119 million for the financial year ending 31 December 2018.

The personal care and hygiene company today released preliminary results for the first half of 2018, with earnings (EBITDA) down 24 per cent on the same time last year to $46 million.

Revenue fell by 9 per cent to $267 million.

The company says the decline in first half results is due to significantly higher pulp and electricity costs of about $10 million.

Lower sales in the consumer tissue business and a decline in baby care sales also impacted results.

Shares in Asaleo Care (ASX:AHY) are trading 32.57 per cent lower to 88c.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.