Brief: Comms Group Advises Of Restructure To Reduce Non-Core Costs

Comms

03/04/2023 23:36

April 4 (Reuters) - Comms Group Ltd  CCG.AX :
    * UPDATES ON BUSINESS OPERATIONS AND ADVISES OF A
RESTRUCTURE TO
REDUCE NON-CORE COSTS
    * REMAINS ON TRACK TO ACHIEVE UNDERLYING EBITDA OF A$5MLN+
FOR
FY23
    * HAS BEEN WORKING WITH KEY CUSTOMER VODAFONE ON AN ENHANCED
CONTRACTUAL ARRANGEMENT
    * ON A FULL YEAR BASIS EXPECT TO ACHIEVE UNDERLYING
ANNUALISED
EBITDA OF APPROX. A$7M
    * RESTRUCTURE COMMENCED AND COMMS GROUP EXPECTS TO DELIVER
CIRCA
A$2M OF ANNUALISED OPERATING COST SAVINGS

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