22nd Jul 2016 08:19
LONDON (Alliance News) - Vending machine company Uvenco UK PLC on Friday said full-year earnings will be hit by an increase in overhead expenditure due to stricter accounting policy interpretations.
Uvenco, which recently changed its name from Snacktime PLC, said costs that had previously been categorised as exceptional items and stricter accounting policy interpretations may now increase expected overhead expenditure for the year ended May 31.
This will hit full-year earnings before interest, tax, depreciation and amortisation, although Uvenco still expects results to be "considerably" ahead of the prior financial year.
Uvenco saw a GBP1.1 million Ebitda loss in financial 2015.
The company added that Ebitda has continued to improve over the first quarter of the current financial year.
It will announce its financial 2016 results towards the end of September.
Shares in Uvenco were untraded on Friday, last quoted at 8.00 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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