Sales financing and fleet management firm Eclipx Group has cut its full-year profit guidance, hurt by sluggish auction activity at its online brand GraysOnline.
In an update released after the close of trade on Monday, the company said it now expects to report fiscal year 2018 net profit after tax and amortisation (NPATA) in the range of A$77 million ($56.9 million) to A$80 million.
The new forecast equates to about 13 per cent to 17 per cent growth on the previous year, compared with the previous forecast of about 27 per cent to 30 per cent growth.
Eclipx shares were down $1.24 or 41 per cent to $1.80 at 1057 AEST - an all-time low.
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