ARIADNE has forecast an 89% fall in underlying profit for FY09.
The company expects the underlying trading result will be between $1.75 million and $2.25 million compared to $20.09 million in the prior year. Ariadne said in FY08, the company sold the Mariner’s Cove project, which contributed a profit of $17.79 million.
In addition, Ariadne also expects to be make a noncash write-down of $8.5 million.
Ariadne said it will pay an unfranked final dividend of 1 cent for FY09.
Australian Property Journal
