BH Global: terminated an Engineering and Installation contract with Twins Engineering & Hardware, announced in Dec ‘09. Recall contract is expected to be worth more than $20m (approx 20% of FY09 revenue), although company says that it does not expect material impact on NTA and EPS for FY10…
Company also reported lackluster 2Q10 results. Revenue -10%, mainly due to decline in sales from Supply Chain Management segment, as lagged effect of financial crisis resulted in slower orders, project delays, and a more cautious approach to sales on concerns over slower payment from clients. Gross margins fell to 32% from 36% yoy, due to change in product mix. NPAT to sh/h fell 32% yoy to $2.7m. The group continues to maintain a cautious outlook for the foreseeable future.
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