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BRIEF-Navitas To Rationalise Careers And Industry Division

Published 18/07/2018, 09:54 am
© Reuters.  BRIEF-Navitas To Rationalise Careers And Industry Division
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July 18 (Reuters) - Navitas Ltd NVT.AX :

* NAVITAS TO RATIONALISE CAREERS AND INDUSTRY DIVISION

* CO WILL UNDERTAKE A RATIONALISATION PROGRAM TO ADDRESS PROFITABILITY OF PARTS OF ITS PORTFOLIO

* SUBJECT TO FINAL AUDIT REVIEW, ONE-OFF CHARGES WILL TOTAL ABOUT $130M POST TAX

* NAVITAS' UNAUDITED FY18 EBITDA RESULT PRIOR TO THESE ONE-OFF CHARGES ARE IN LINE WITH MARKET EXPECTATIONS

* AN INCREMENTAL CASH IMPACT OF FY18 CHARGES OF APPROXIMATELY $5M WILL BE INCURRED IN FY19

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