Globe International fired a warning shot to the market, reporting its expects an EBITDA loss for the first half ended Dec. 31, 2008 of approximately A$5.0 million to A$6.0 million. Management said the loss was due primarily to “slowing in business conditions.”
“With regard to the second half of the financial year, our cost base has been significantly reduced due to the actions we have already taken,” said Matt Hill, Globes CEO. “During the period ahead we will continue to explore further opportunities for additional efficiency savings and effective capital management.”
