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BEACON LIGHTING GROUP LIMITED — Capital/Financing Update 2016
May 17, 2016
64534_rns_2016-05-17_d6c8049a-02a3-4dee-9bd3-c6864838ece5.pdf
Capital/Financing Update
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18[th] May 2016
Trading Update and Financial Guidance for FY2016
Beacon Lighting Group (ASX: BLX) wishes to provide the market with a trading update for FY2016.
Today the Group is reporting that it is expecting to achieve Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) for the FY2016 for the 52 weeks ending June 26, 2016 to be within the range of $28.2 million to $29.2 million, compared with $27.4 million for the corresponding period in FY2015.
As reported in the H1 FY2016 results presentation the Group had a positive start to the H2 FY2016 in relation to company store comparative sales, however the sales during the past 10 weeks have not met management’s expectations. Group sales for the first 18 weeks of H2 FY2016 have been 4.6% ahead of the corresponding period.
Sales have been softer due to a variety of factors, including:
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Change in timing of the Easter break, in what is an important home renovation period
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Weak consumer confidence
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An increase in clearance activity by competitors in the lighting category
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Reduced exposure in key advertising initiatives compared with FY2015
The Group is expected to report that Sales and Net Profit after Tax (NPAT) for FY2016 will exceed FY2015 which was a year in which the Group achieved outstanding results.
For further information, please contact:
Glen Robinson or David Speirs Chief Executive Officer Chief Financial Officer Ph: 03 8561 1555 Ph: 03 8561 1555
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