Stefanutti Stocks Holdings Limited provided earnings guidance for the six months ended August 31, 2012. The company expects earnings and headline earnings per share, are expected to between 50% to 70% lower than the earnings and headline earnings per share for the prior comparative period. Although revenue is anticipated to show an increase of between 23% and 33%, the reduction in earnings can be attributed to: reduction in margin due to competitive trading conditions; a number of problematic contracts mainly in the Building Business Unit; and some bad debt write offs.
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- Stefanutti Stocks Holdings Limited Provides Earnings Guidance for the Six Months Ended August 31, 2012