MOVE Logistics Group Limited (NZX: MOV) has provided a trading update and earnings guidance as it progresses with its business turnaround programme and responds to macro-economic headwinds impacting the sector.
The company has commenced a formal sale process to investigate the market interest in the sale/asset disposal of its non-core Specialist and Lifting business.
Earnings guidance for FY22 has been provided and underlying EBITDA is expected to be between $53m and $56m.
An Executive Director commented that the turnaround is taking longer than anticipated but the business is now stronger and more robust to support its growth strategy.
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