Industrial packaging business Pact Group Holdings Ltd (ASX: PGH) is the worst performer on the S&P/ ASX 200 (ASX: XJO) today by a country mile after the group flagged higher input costs took a $13 million chunk out of reported EBITDA in FY 2018.
The group also flagged one-off costs of $23 million over the period related to, inter alia, acquisition payments and restructuring costs.
Pact Group shareholders should look away now.
Source: Google Finance
Overall statutory profit came in 18% lower at $74 million, with adjusted net profit (before significant items) down 5% to $95 million.
It’s not all bad news for investors though as Pact did maintain total dividends at 23 cents per share and forecast EBITDA (before significant items) to grow to between $270 million to $280 million in FY 2019.
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The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.