Service Stream warns of 'material loss'

Service Stream warns of 'material loss'

The NBN contractor requests for another extension of trading halt

NBN contractor, Service Stream (ASX:SSM), has warned of a “material loss” in its FY13 results in relation to its Syntheo joint venture business, according to a filing with the ASX.

The company has again requested a continuation of voluntary suspension in trading on the ASX as it needs time to close discussions in relation to the joint venture, arrangements with NBN Co on project completion assumptions, and negotiations with its banks on re-financing its bank facilities.

It expects to wrap up those discussions by August 15, the release date of its end of financial results, it said in the filing.

In an earlier request for a voluntary trading suspension, the company had warned of issues including the impact on its performance results of its Syntheo joint venture business with Lend Lease.

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Tags NBNService StreamtelecomLend LeaseSyntheo

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