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Servcorp Announces Profit Guidance

30 Jan 2017  |  09:56:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Profit Guidance

Servcorp announced that it expects NPBT for FY 2017 to be around $47m (previous NPBT guidance was not less than $56m). During December 2016 $2.5m of unplanned one off expenses were incurred related to the restructure of the USA operations and the closure of a location. Cash balances remain strong at $115m (includes encumbered cash of $10.8m). The first quarter of FY 2017 revealed positive trading conditions and corresponding NPBT. Therefore, it announced that the previously forecast FY 2017 interim and final dividend of 11.00cps each will be increased to 13.00cps each per share.

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