Ann: Trading Halt, page-12

Ouch I found it .
75% lower than previous analysts’ forecasts “Analysts have been forecasting MACA’s fiscal 2019 profit to come in at about $26 million.”
..This despite the fact revenue is higher ....


MACA slashes profit expectations
Peter WilliamsThe West Australian
Wednesday, 14 November 2018 3:42PM

“Mining contractor MACA has blamed a tightening labour market on a steep profit downgrade for the first half.

In an update to shareholders at today’s annual meeting in Perth, MACA chairman Andrew Edwards tipped an interim net profit of $7 million to $9 million, up to 40 per cent lower than a year earlier.

This is despite the company expecting to meet broker consensus forecasts of about $300 million revenue for the half, compared with $285 million a year earlier. Its annual revenue forecast of $620 million has been maintained.

Analysts have been forecasting MACA’s fiscal 2019 profit to come in at about $26 million.

Mr Edwards said the labour market situation had causes margin pressure by affecting the availability and deployment of equipment. That had hurt site performance across projects.

“The second half financial performance is expected to be stronger due to the commencement of new projects and delivery of new fleet,” he said.

MACA’s shares were placed in a trading halt ahead of releasing the update, which came after the marked closed for the day. They last traded at $1.175.”