Reuters logo
BRIEF-Godfreys Group Ltd announces restructuring
October 18, 2016 / 11:02 PM / in a year

BRIEF-Godfreys Group Ltd announces restructuring

Oct 19 (Reuters) - Godfreys Group Ltd

* restructuring costs of up to $2.0 million in fy17

* godfreys to rebalance store portfolio to embrace a franchise-led model

* up to 60 corporate stores to be converted to franchise stores over 3 years

* cash generated from this restructure will be used to reduce debt and pay dividends

* underlying earnings guidance for fy 2017 of sales $180 m - $182 m

* oard will also conduct an assessment of carrying value of intangible assets as a result of strategic review.

* conversion of approximately 18 company stores to franchise stores in fy17 will deliver immediate cash flow benefits Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below