BSA Sees AU$6.5 Million Restructuring Costs, Shares Plunge 26%

MT Newswires Live

03/20

BSA's (ASX:BSA) unified field operations contract with NBN Co expires on Sept. 30 and it expects work orders to progressively decline from around May with new orders stopping from about mid-July, the company said in a Thursday Australian bourse filing.

After being unsuccessful at securing field module contract with NBN, the company said it expects restructuring costs of about AU$6.5 million in the current financial year with a cash flow impact of about AU$10 million including employee entitlements.

The company's shares plunged 26% in recent Thursday trade, reaching a record low.

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