Australia's largest extruder and distributor of aluminium products, Capral Aluminium has delivered earnings guidance for H1, ended 30th June’20.
The aluminium firm based on unaudited management accounts, predicts that trading EBITDA for the half-year to 30 June 2020 will be approximately $10.2 million (H1 2019: $2.4 million), with EBITDA for the half-year around $17 million (H1 2019: $3.4 million).
Net profit after tax for the six months ended 30th June’20 will be approximately $4.8 million compared to the comparative prior period loss of $8.4 million.
Capral's order absorption, aligned with the budget of Q1 2020, reflected to shrink rapidly in April, prompting management to execute cost-saving measures to meet COVID-19 challenges.
In May’20, when Capral enrolled in the Government’s JobKeeper initiative to preserve employee jobs, revenue started to fall. However, from June’20 onwards order consumption and revenues started to show improvement on the back of increased market share against imports.
Capral is expected to announce final audited results for the half-year ended 30 June 2020 on 21st August 2020.
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