Multi-disciplined engineering and construction company, Saunders International Limited (ASX:SND) announced a second COVID-19 related business update. Over the past month, the Company witnessed reduced productivity across some sites and delayed receipt of material, while specialist project personnel were unable to visit sites, owing to travel restrictions.
SND has revised its revenue guidance for FY20 to circa $66 million - $70 million with EBIT margin forecast between 1.8% and 2.3%. The target budget for FY21 is $100 million while the EBIT margin in FY21 is forecast to be circa 3.75% - 4.75%. There has been no change to the Board’s objective to resume fully franked dividend payments in FY21.
SND was trading at $0.46 at 11:39 AM AEST.