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BRIEF-Programmed Maintenance lowers FY17 EBITDA forecast to about $100 mln

Published 29/09/2016, 08:37 am
© Reuters.  BRIEF-Programmed Maintenance lowers FY17 EBITDA forecast to about $100 mln
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Sept 29 (Reuters) - Programmed Maintenance Services Ltd PRG.AX

* FY17 EBITDA is now projected to be approximately $100 mln (previous guidance $120 mln)

* Net reduction in revenue will lead to lower earnings in year to 31 march 2017 than previous guidance

* Net debt is projected to be less than $200 mln at march 2017

* Has concluded that in short term revenue growth in staffing business will now not offset steep decline in marine business

* Further redundancies have been made and offshore / marine business has been merged into a single larger operations Source text for Eikon: Further company coverage: PRG.AX

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