McGrath set to announce subdued earnings
Joel RobinsonDecember 7, 2020
Real estate agency McGrath have advised they are looking at subdued earnings in the current period.
It told shareholders their results would be at the bottom end of their forecasted earnings.
They made the brief statement when announcing their link with Aqualand.
The update read "the performance for the financial year ending 30 June 2018 will be at the lower end of the previously provided guidance."
This is in reference to the earlier guidance they had to halve in March.
They said they have anticipated the lower earnings after having regard for recent trading and real estate market conditions.
They said the underlying EBITDA is expected to be $5 million, but $4 million in one-off costs will bring that down to $1 million.
Joel Robinson
Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.