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NYLEX TO REVIEW EARNINGS GUIDANCE FOR FISCAL 2009.(Financial report)
MELBOURNE, Nov 3 Asia Pulse - Diversified manufacturer Nylex Ltd (ASX:NLX) will review its earnings guidance for fiscal 2009, saying current market turmoil will have "an adverse impact on the company's earnings".
Nylex said today that several factors were behind the guidance review.
These included cutbacks in the production schedules of automotive manufacturers, the adverse impact of the dramatic fall in the value of the Australian dollar, and the general deterioration in market conditions.
Nylex said these factors "will combine to have an adverse impact on the company's earnings for the 2009 financial year".
"A further announcement will be made by the company once there is more clarity concerning the situation," Nylex said.
Nylex executive chairman Peter George told shareholders at an extraordinary general meeting in September that in fiscal 2009 the company was targeting a small profit of $5 million at the ...
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