Anittel downgrades half-year expectations

Anittel downgrades half-year expectations

It is expecting revenue to reach $31 million, earnings before tax to dip $300,000 and a net profit loss of about $800,000

ASX-listed IT and telecommunications integrator, Anittel (ASX: AYG) has lowered its earnings forecast for first half year ending December 31.

It is expecting revenue to reach $31 million, earnings before tax to dip $300,000 and a net profit loss of about $800,000.

“Tasmanian non-core product sales remain below budget and volatile, improving in October, but deteriorating in November. Accordingly the Board believes it is prudent to make the market aware that half year performance is expected to be materially below its previous guidance,” Anittel said in a statement to the ASX. “Business conditions with respect to product sales are sufficiently uncertain that, we don’t feel it is prudent or appropriate to yet attempt to restate the likely full year result.”

In the statement to the ASX, Anittel stressed it was not seeing customer churn, but some customers had reduced their product purchases.

“We will continue to monitor results and we will restate the expected position for June 30 when appropriate,” the company said.

In November, the entity changed its name from Hostech to Anittel.

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