Brief: Bill Identity Will Discontinue About 20 Us Platform Utility Bill Management (UBM) Contracts

Optima Technology

07/12/2021 01:14

Dec 7 (Reuters) - Bill Identity Ltd  BID.AX :
    * US PLATFORM BUSINESS UPDATE-BID.AX
    * WILL DISCONTINUE APPROXIMATELY 20 US PLATFORM UTILITY BILL
MANAGEMENT (UBM) CONTRACTS
    * WILL REDUCE HEADCOUNT AND ASSOCIATED FIXED COSTS WHICH
SUPPORT
THESE CONTRACTS
    * DISCONTINUATION ACTIONS ARE EXPECTED TO RESULT AN EBITDA
GAIN OF
AUD$4.0M ON AN ANNUALISED BASIS
    * COST OF US STRUCTURAL CHANGES IS EXPECTED TO BE ABOUT
A$0.5M

Source text for Eikon:  urn:newsml:reuters.com:*:nASX961WTR
Further company coverage:  BID.AX 

 ((Reuters.Briefs@thomsonreuters.com;))