Bhagwan Marine forecasts combined earnings reaching $46.5M
Full story: https://grafa.com/en/news/australia/bhagwan-marine-forecasts-combined-earnings-reaching-46-5m
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The company stated standalone earnings are expected to reach $38.5–$40.5 million for the financial year.
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The business reported net financial debt of $74.5 million following its recent corporate acquisition.
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Bhagwan Marine stated it remains focused on integrating the Riverside Marine charter fleet to drive revenue.
Bhagwan Marine (ASX:BWN) stated its standalone full-year earnings are expected to reach $38.5–$40.5 million.
The earnings forecast matches the prior market update provided by the business on May 12.
The company attributed this consistent performance to disciplined cost management and higher margins across core operations.
The business projected the newly acquired Riverside Marine division will add $5.8–$6.3 million in fourth-quarter earnings.
Following the announcement, the Bhagwan Marine share price was down at $0.26.
The company stated combined enterprise earnings are expected to reach $44.5–46.5 million before acquisition costs.
The business reported net debt of $74.5 million after funding the Riverside transaction and vessel upgrades.
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