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BRIEF-Bradken updates on outlook and restructuring program

Published 21/01/2016, 05:05 pm
© Reuters.  BRIEF-Bradken updates on outlook and restructuring program
BKN
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Jan 21 (Reuters) - Bradken Ltd BKN.AX :

* Says expects to report a half year underlying EBITDA of approximately $52

million for the six months to 31 December 2015

* Says "now optimistic that an improved result is likely for the second half of

this financial year"

* Says arnall will continue in the role of acting CEO

* Expected that statutory accounts as at 31 December 2015 will include an

additional impairment charge associated with mining & transport and

engineered products (USA) divisions

* Says announces its intention to divest its UK operations

* Says confirms that the acquisition of the low cost Indian foundry will be

completed during February

* Company's cost reduction and restructuring program is now well advanced and

is showing results consistent with expectations"

* Source text for Eikon ID:nASX9DxKgQ

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