ASX futures higher. Cochlear ups adjusted profit 18pc, Cleanaway raising $400m to buy GRL, Fisher & Paykel warns on margins. Oil gains. $A slips. Follow updates here.
Cleanaway Waste Management 2022 profit fell 45 per cent to $80.6 million on the toll of flooding and clean-up costs, although revenue increased 25 per cent to $3 billion.
It forecast financial 2023 underlying EBITDA of $630 million to $670 million and presently the mid-point of that range, excluding $21 million of annualised EBITDA from the GRL acquisition.Underlying profit fell 5 per cent to $143.3 million excluding extensive adjustments such as a $28.6 million provision for the rectification of the New Chum landfill, acquisition and integration costs linked to the Sydney Resource Network deal of $22.5 million, and $6.
The shares are in a trading halt ahead of a $350 million capital raising plus $50 million share purchase plan to fund the purchase of Global Renewables Holdings for $168.5 million.
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