Vocus Takes A $1.5 Billion Hit
No. 4 – or is it No. 5? – telco and fibre networking outfit Vocus has warned that its profit would fall short of guidance and it planned to take a $1.53 billion impairment hit across it’s a/NZ operations.
This is unlikely to result in a better price for the company which has been opening its books to two would-be private equity takeover merchants.
Vocus said it now expects an underlying profit of A$152.3 million for the financial year through June, up 50 percent on the previous year, but below the $165 million it had previously forecast.
It added that net debt at the end of June stood at an expected $1.03 billion.