Programmed Maintenance earnings need repairing
On Thursday labour hire and maintenance firm Programmed Maintenance Services (ASX: PRG) flagged a $75.0 million impairment resulting from poor performance in its marine services division. The company also downgraded expectations for overall operating earnings for its financial year ended March 31, 2016 by approximately 10%. PRG said it has experienced a sharp decline for marine services following the decline in oil and gas prices. PRG shares closed down 44% this week. We do not own PRG in the investment portfolio.
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Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the Future Generation companies, the first LICs to deliver both investment and social returns.
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Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more...
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more...
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