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BRIEF-Landmark White Expects Return To Profitable Trading From Q2 In FY2020

Published 19/07/2019, 05:13 pm
© Reuters.  BRIEF-Landmark White Expects Return To Profitable Trading From Q2 In FY2020
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July 19 (Reuters) - Landmark White Ltd LMW.AX :

* EXPECTS TO RETURN TO PROFITABLE TRADING FROM Q2 IN FY2020

* BOARD DOES NOT RECOMMEND A FINAL DIVIDEND FOR YEAR ENDED 30 JUNE 2019

* LOOKING TO RAISE ADDITIONAL EQUITY VIA A PARTIALLY UNDERWRITTEN, NON-RENOUNCEABLE, ENTITLEMENT OFFER

* FY NET LOSS AFTER TAX FROM CONTINUING OPERATIONS $15.1 MILLION VERSUS PROFIT OF $4.1 MILLION

* FY REVENUE $43 MILLION VERSUS $43.2 MILLION

* UNDERTAKING A PARTIALLY UNDERWRITTEN, NON-RENOUNCEABLE RIGHTS ISSUE WITH AIM OF RAISING BETWEEN $3 MILLION AND $5.4 MILLION OF ADDITIONAL EQUITY

* NET CASHFLOW FROM EQUITY RAISING ENABLE BUSINESS TO RESTRUCTURE ITS OPERATIONS Source: Further company coverage: LMW.AX

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