Gale Pacific Limited (ASX: GAP) expects profit before tax for the half year ending 31 December 2019 to be a loss of about $3.6 million, compared to earlier guidance of a loss of between $1.5 million and $1.8 million, and a profit before tax of $1.3 million for the previous corresponding period.
- The main reasons for the decline from the previous guidance are lower than anticipated sales in the Middle East North Africa (MENA) region;
- The company has been facing difficult trading condition and tighter credit policy in that region.
At AEST 01:11PM, the stock was trading at $0.235 per share, down by 11.321% from its previous close.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.