Thorn Group Provides Profit Guidance

In May 2017, at the release of its full year results, and again at its AGM on 30 August 2017, Thorn Group cautioned shareholders that it expected the profit outlook for the year ending 31 March 2018 would be subdued and subject to a number of variables.

Thorn Group now advises that it expects its half-year profit after tax to be around $11 million and its full year profit after tax to be in the range of $17 to $20 million. This guidance primarily reflects a decline in trading conditions in the Group’s Radio Rentals division and a poor month of trading in September which has continued into this month.

These forecasts represent an approximate 30% reduction from the prior year’s reported performance.

There continue to be a number of other variables which may have a material financial impact on Thorn’s business and financial performance in the short to medium term. These include the ongoing Australian Securities and Investment Commission investigation into Radio Rentals’ responsible lending practices (for which Thorn Group has already made certain provisions) and the class action launched by Maurice Blackburn.

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s