T&G Global has updated its earnings guidance for the 2023 financial year, now expecting a larger loss of between $60 million to $67m before income tax.
This is a significant increase from the previous forecast of a loss between $28m to $34m, which was announced in May 2023.
The company attributed the variance to delays in finalising the value of an insurance claim receivable due to the complexity of the claim from the damage caused by Cyclone Gabrielle.
T&G Global will release its full-year results for 2023 on Feb 29 2024.
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