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BRIEF-Meikles says HY pretax profit from continuing operations was $5.4 mln
November 24, 2017 / 7:38 AM / in 25 days

BRIEF-Meikles says HY pretax profit from continuing operations was $5.4 mln

Nov 24 (Reuters) - MEIKLES LTD:

* HY GROUP REVENUE GREW BY 12% TO US$254.0 MILLION FROM US$225.9 MILLION IN THE PREVIOUS YEAR‍​

* HY EBITDA GREW BY US$5.7 MILLION OR 60% FROM US$9.5 MILLION IN THE PREVIOUS YEAR TO US$15.3 MILLION

* HY PROFIT BEFORE TAX FROM CONTINUING OPERATIONS WAS US$5.4 MILLION COMPARED WITH A LOSS OF US$0.7 MILLION IN THE PREVIOUS YEAR

* GROUP IS EXPECTED TO INCREASE ITS EBITDA PERFORMANCE DURING THE SECOND HALF OF THE FINANCIAL YEAR

* SAYS STRATEGIES TO REDUCE SHORT TERM BORROWINGS FURTHER DURING REMAINING MONTHS OF THE FINANCIAL YEAR ARE IN THE PROCESS OF BEING IMPLEMENTED‍​

* BOARD HAS NOT DECLARED AN INTERIM DIVIDEND Source: bit.ly/2hMIoHf Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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