Australian Stock Report - Share Tips
Transpacific Industries (TPI) downgraded its FY12 profit
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Publish date: Mon, 25 Jun 2012, 03:23 PM
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TPI reduces FY12 profit guidance
Transpacific Industries Group Ltd. provides integrated industrial cleaning and waste management solutions to customers across Australia and New Zealand. The Company also imports and distributes heavy-duty commercial vehicles. The group is listed on the Australian Stock Exchange and is a member of the S&P/ASX 200.
Transpacific Industries downgraded its FY12 profit guidance from $17.3 million to between $8 million and $13 million.
The group also lowered its EBITDA to between $435 million and $442 million. It had previously guided an EBITDA between $445 million and $459 million.
The company blamed the fall in EBITDA on a decrease in Cleanaway's volumes, exacerbated in Queensland by customers deferring the disposal of waste pending expected removal of the landfill levy from July 1, and subdued activity in the manufacturing sector.
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