June 3, 2020 / 7:34 AM / a month ago

BRIEF-Wilson Bayly Holmes - Ovcon Sees FY EPS, HEPS To Be At Least 150% Lower

June 3 (Reuters) - Wilson Bayly Holmes - Ovcon Ltd:

* TRADING STATEMENT TAKING COGNIZANCE OF THE EFFECT OF COVID-19 AND THE COMPLETION OF THE WESTERN ROADS UPGRADE

* OTHER THAN 4 PROJECTS SUSPENDED BY CLIENTS, ALL PROJECTS IN UK OPERATED THROUGHOUT LOCKDOWN, REMAIN OPERATIONAL

* FOUR SUSPENDED UK PROJECTS HAVE SUBSEQUENTLY ALL RESTARTED

* UK REVENUE AND PROFIT FOR YEAR TO 30 JUNE 2020 IS STILL EXPECTED TO BE UP BY AT LEAST 5%

* CASH RESERVES IN UK AND AFRICA ARE ANTICIPATED TO REMAIN STRONG

* AUSTRALIA OPERATIONS WILL NEED FUNDING TO AVOID BREACHING CERTAIN COVENANTS WITHIN AUSTRALIAN LOCAL GUARANTEE FACILITY

* EPS AND HEPS ARE EXPECTED TO BE AT LEAST 150% (1409 CENTS AND 1 398 CENTS RESPECTIVELY) LOWER FOR FY Source text for Eikon: Further company coverage:

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