December 22, 2017 / 2:21 AM / a year ago

BRIEF-BPS Technology Board Announces Restructuring Plans

Dec 22 (Reuters) - BPS Technology Ltd:

* BOARD ANNOUNCES RESTRUCTURING PLANS

* ‍H1 FY18 FINANCIAL RESULTS WILL INCLUDE A RESTRUCTURING PROVISION OF $4.5 MILLION​

* BOARD ESTIMATES THAT RESTRUCTURING PROGRAM WILL YIELD ANNUALISED COST SAVINGS EXCEEDING $5 MILLION

* ‍H1 FY18 RESULTS TO INCLUDE NON-CASH IMPAIRMENT CHARGES RELATING TO WRITE DOWN OF INTANGIBLE ASSETS, BETWEEN $7 MILLION TO $12 MILLION​

* CONFIDENT OF MEETING PREVIOUSLY ANNOUNCED FY18 GUIDANCE OF AT LEAST $110 MILLION IN REVENUES & $10.2 MILLION IN NET PROFIT AFTER TAX

* SEES ‍H1 FY18 EBITDA OF BETWEEN $4.0 MILLION AND $4.5 MILLION, PRIOR TO RESTRUCTURING COSTS AND IMPAIRMENTS​

* EXPECTS GROUP REVENUES FOR H1 FY18 TO INCREASE MARGINALLY OVER PRIOR CORRESPONDING PERIOD’S REVENUE OF $56 MILLION Source text for Eikon: Further company coverage:

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