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BRIEF-Carsales.Com Continues To Be Unable To Provide Specific Financial Guidance For Fy20

Published 23/04/2020, 10:29 am
© Reuters.
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April 23 (Reuters) - Carsales.Com Ltd CAR.AX :

* CONTINUES TO BE UNABLE TO PROVIDE SPECIFIC FINANCIAL GUIDANCE FOR FY20

* CARSALES.COM SAYS BOARD AND EXECUTIVE REMUNERATION REDUCED BY 20% FROM 1 APRIL TO 30 JUNE

* AT END OF MARCH, CO HAD NET DEBT POSITION OF $355 MILLION

* CARSALES.COM-WAIVED ALL FIXED & VARIABLE ADVERTISING CHARGES FOR APRIL AND PROVIDED A 50% DISCOUNT IN MAY

* DEFERRED PAYMENT OF APRIL AND MAY ADVERTISING INVOICES BY 30 DAYS

* ABOUT 250 EMPLOYEES IN AUSTRALIA STOOD DOWN TEMPORARILY, MOST ON A PARTIAL BASIS

* IMPLEMENTED REDUCTION OF COSTS ACROSS BUSINESS, SUCH AS OUTDOOR BRAND MARKETING

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