YPB ISSUES UPDATED PROFIT EXPECTATIONS
- Date: 28th June 2017
- Category: Investor News
- Source: ASX
YPB Group is pleased to provide an update to our market guidance. On 3 February 2017 and again at the AGM on 31 May 2017, YPB informed the market that we expected to achieve profit breakeven by end June 2017 and to achieve a $5m pre-tax profit for 2017. At both those times it was made clear that revenue growth was the key variable in achieving those goals and that the closure of key contracts was the driver of revenue growth.
Unfortunately, those contract closures have not been achieved and the Company will not hit breakeven by end June which also creates doubt around the expectation of a $5m pre-tax profit for 2017.