Ausdrill in trading halt

Ausdrill has been suspended from the ASX as it prepares to release an announcement to the market early next week. Most likely, the company will reveal fresh profit downgrades and perhaps additional write offs. It generates most of its revenue from gold and iron ore, two commodities that have been punished by markets and where miners have been forced to chop drilling programs. The African division may also be troubled by the ebola outbreak. Lower revenue will no doubt result in lower profits but we'll have to wait for the news before we can assess how bad things are. Just...

Ausdrill has been suspended from the ASX as it prepares to release an announcement to the market early next week. Most likely, the company will reveal fresh profit downgrades and perhaps additional write offs. It generates most of its revenue from gold and iron ore, two commodities that have been punished by markets and where miners have been forced to chop drilling programs. The African division may also be troubled by the ebola outbreak. Lower revenue will no doubt result in lower profits but we'll have to wait for the news before we can assess how bad things are.

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