The troubled real estate group founded by John McGrath has issued another profit warning, after new management reassessed the financial pain inflicted by agent exits.
The latest downgrade follows the appointment of a fresh board and chief executive last month.
McGrath said it now expects underlying earnings for the financial year to come in between $5 million and $5.5 million.
That is about half the $10.6 million to $11.6 million range forecast in January, when it was revealed the chief executive and the entire board except for John McGrath would be leaving.
“I think that was a view the board took at that particular point in time that was before…
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