Ava Risk Group Limited (ASX:AVA) provided an update for its previous FY20 and Q4 guidance. The service division of the group has performed strongly in Q4, but the Technology Division has been impacted by about $2.5 million of order delays due to COVID-19. The update includes:
- Revenue for Q4 and H2 is expected to be now at $12.3 million (+$1.8m earlier) and $24.6 million (+$2m) respectively
- Revenue for FY20 is predicted to be at nearly $45 million, and FY20 EBITDA is now forecasted to be circa $6.8 million (+$1.8m)
- Revenue from Indian Ministry of Defence for Q4 is forecasted to be at $1.3 million (+$0.8m)
Further, AVA declared retirement of Mr Scott Basham from his position as CEO and Executive Director.
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