Spotless to Update on Laundries Sale Process at Fiscal 2016 Result; AUD 1.60 FVE Unchanged
Spotless is due to report its fiscal 2016 results on Aug. 25. We expect NPAT of AUD 134 million (EPS of 0.14), down 6% on the previous corresponding period (down 3% like for like, excluding acquisitions) and second-half 2016 DPS of AUD 0.035 (no franking). Following a disappointing 2016 interim result affected by poor acquisition integration within the laundries division, we think the second half will see accelerated cost-outs and a pickup in contract win rates in the core facilities management ...Spotless Group Holdings is engaged in the provision of outsourced facility services, laundry and linen services, technical and engineering services, maintenance and asset management services and refrigeration solutions to various industries in Australia and New Zealand. Co.'s operating segments comprised of: Facility Services, which provides multi-faceted facilities management, cleaning, and catering and food services to a range of industries across Australia and New Zealand; and Laundry Services, which provides linen and uniform laundry services to a range of customers across Australia and New Zealand.
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