McGrath Ltd (ASX:MEA) expects to generate underlying EBITDA for the June 2018 financial year in the range of $5.0 million to $5.5 million.
The share price is largely unchanged, down 0.5 cents to $0.425, albeit on low volume ($30,000 shares traded at around midday).
During January 2018, McGrath told the market its FY18 EBITDA was expected to be in the range of $5.8 million to $6.8 million after one-off items.
Reduced sales volumes to blame
Management has said the impact of reduced sales volumes has affected the company more significantly than the prior forecast contemplated.
McGrath is a real estate services business, offering agency sales, property management, mortgage broking and caree…
Read the full article at: http://www.proactiveinvestors.com.au/companies/news/192959/mcgrath-updates-market-with-lower-earnings-guidance-for-fy18-192959.html