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BRIEF-Devine announces earnings guidance update

Published 01/12/2015, 12:14 pm
Updated 01/12/2015, 12:20 pm
© Reuters.  BRIEF-Devine announces earnings guidance update
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Nov 30 (Reuters) - Devine Ltd DVN.AX :

* Earnings guidance update DVN.AX

* Reduced its guidance to a loss before tax of greater than $11 million for the year ended 31 December 2015.

* Revised guidance excludes any costs associated with the current cimic take-over offer

* Additional trade letting losses to those previously identified within Devine constructions will have an impact of approximately $3 million

* Says Devine receives notice of intention to resume southbank townsville

* Further reduction in land settlements (155 settlements) as a result of additional delays in civil construction and land title registration

* Says resumption notice is to provide for the proposed new townsville convention centre and stadium development

* Says not currently in a position to assess how the resumption might impact future performance

* Says notes that a resumption may impact the carrying value of the southbank asset

Source text for Eikon ID:nASX551r2q

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