The ARQ Group Ltd (ASX: ARQ) share price is flat today despite the group announcing that it has a number of buyers interested in both its operating divisions.
The group formerly known as Melbourne IT has seen its shares tumble around 82% over the past year on the back of a huge profit downgrade not long after its former CEO sold shares on market himself.
ARQ is now forecasting fiscal 2020 EBITDA between $16.8 million to $19.3 million, compared to a prior forecast between $27 million to $30.5 million.
Today it announced it will “test the ground” for the sale of both its operating divisions and flagged that its SMB division continues to perform in line with expectation. It’s expected to deliver “core underlying EBITDA” between $9.7 million to $10.7 million on revenue up to $70 million over fiscal 2019.
The Achilles heel remains the beleaguered enterprise division that ARQ is also shopping around to potential buyers.
The group is also looking to save around $2.3 million in annualised costs going forward in response to the poor operational performance and diabolical shareholder returns.
With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.
Hint: These are 3 shares you’ve probably never come across before.
They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”
We think these 3 shares offer solid growth prospects over the next 12 months. Each of these three companies boasts fully franked yields and could be a great fit for your diversified portfolio. You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."
Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!
The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.
Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. 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.