Brief: Veritas Investments updates on outlook

Good Spirits Hospitality

26/01/2016 19:34

Jan 27 (Reuters) - Veritas Investments Ltd  VIL.NZ : 
 
 * Veritas provides updated market outlook and profit guidance 
 * Overall trading in the second quarter ended 31 December 2015 has been disappointing and below budget 
 * EBITDA for the six months ended 31 December 2015 is likely to be in the range of NZ$3.0M-NZ$3.1M 
 * Currently working with pwc as external advisers to review the operations  across all vil businesses 
 * Resolved to recognise asset impairments and other writedowns of $5.4M as a  result of a number of factors 
 * Board has decided that no interim dividend will be declared for the half year  ended 31 December 2015 
 * Updates the guidance for the full year to EBITDA of NZ$8M-NZ$9M 
 * Says board is continuing to actively seek a suitable candidate for the role of CEO of VIL 
 * All figures in NZ$ 
 
* Source text:(http://bit.ly/1Shzrlt) 
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