BWX Limited (ASX: BWX) informed the market that the company has changed the date to release its full-year results. According to the release, the company will now deliver results on August 29 instead of August 15 because of several factors related to the company resources including the evaluation of a non-binding indicative offer from a consortium led by Bain Capital and the undertaking of a strategic review which was announced on 12 June 2018. Further updates on the strategic review will be given at the time of the release of the full year financial results.
Furthermore, the group has disclosed that unaudited underlying EBITDA for the full year is anticipated in the range of $40 million to $41 million, showing an expansion of 52% to 55% as compared to the prior corresponding period (pcp). However, the revised EBITDA expectation indicates 4.8% to 10.9% downfall for the full year from the previous guidance which was around $42 Mn to $48 Mn.
With this news, the stock slipped 7.9 per cent on ASX with the intra-trading volume of more than 1.18 Mn. The stock traded at $4.990 with the market-cap of circa $665.2 Mn as on August 08, 2018 (AEST – 03:30 P.M.).
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