City Chic Collective FY19 EBITDA $24-25m, sales ‘in their favour’

Company News

by Jessica Amir

Australian retailer, City Chic (ASX:CCX) is eyeing FY19 full year underlying earnings before interest, taxation, depreciation and amortisation from continuing operations of between $24 and $25 million, which is in line with analyst consensus.

Previously City Chic advised its half year (26 week) EBITDA to 30 December 2018 was $15.8 million.

It was also informed by independent experts that the sale of Millers, Katies, Crossroads, Autograph and Rivers businesses is in their favour.

The completion adjustment, as well as other non-recurring expenses associated with the divestment, will be finalised as part of its FY19 Net Profit After Tax from discontinued operations.

City Chic (ASX:CCX) shares are trading 5.74 per cent lower at $1.73

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