February 8, 2018 / 7:18 AM / a year ago

AA sees FY core profit of 390-395 mln stg

LONDON, Feb 8 (Reuters) - Roadside recovery firm and insurer AA expects full-year core profit of 390-395 million pounds ($542-549 million), in line with guidance given last year, it said on Thursday.

AA in September cut its forecast for trading earnings before interest, tax, depreciation and amortisation (EBITDA) for the year ending Jan 31, 2018, as it sought to stabilise the business after firing executive chairman Bob Mackenzie.

“We are currently reviewing the strategy to ensure that we can continue to build on the strength of our brand and distribution platform,” AA said in a statement.

The company expects to provide a strategy update on Feb 21, it added.

AA’s shares this week hit record lows of 116.5 pence, around half their June 2015 launch value. ($1 = 0.7195 pounds) (Reporting by Carolyn Cohn, editing by Maiya Keidan)

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