Chariot hits a speed bump

Stuart Corner
Sunday, 04 June 2006 17:31

IT Industry - Strategy

See also: Chariot makes modest growth in tough times

Broadband ISP Chariot has retracted earlier guidance predicting increased EBITDA in the second half, saying that EBITDA will be inline with first half EBITDA as the result of a number of unexpected developments.
It now expects to report a full year EBITDA of around $2 million and a small after tax loss. It lists the adverse developments as being:
- The deferral of forecast grant income of $500,000 into the 2007 financial year;
- a delay in the rollout of its wireless and VoIP services expected to depress EBITDA by around $300,000;
- unbudgeted consulting and legal costs of around $230,000.