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Company News Summary

Bingo Industries Provides Chairman and CEO's Address to Shareholders

14 Nov 2018  |  12:55:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Chairman and CEO's Address to Shareholders

Bingo Industries provided Chairman and CEO's address to shareholders stating that FY18 included acquisition of National Recycling Group and raising of additional capital. The Company updated that it entered into an agreement to purchase Dial A Dump Industries, subject to Australian Competition and Consumer Commission (ACCC) approval. As reported, the Company delivered a 92% increase in statutory net profit after tax (NPAT) of $38m, an increase in net revenue of 45% to $304m, and pro forma EBITDA increase of 46% to $94m, delivering a group EBITDA margin of 31%. The Company further updated that it operates 17 resource recovery centres and 254 trucks across NSW and Vic.

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