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Thorn Group sees FY net profit after tax between $24 mln to $26 mln

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    March 21 (Reuters) - Thorn Group Ltd (TGA)

    • Group expects its net profit after tax for financial year ending 31 March 2017 will be in range of $24 million to $26 million
    • Company has merged its trade & debtor finance division with equipment finance division
    • Considers that it may be necessary to reduce final dividend for this year from 6.0 cents per share paid in 2016
    • Board considers it prudent to make a further provision with a $4 million profit after tax impact in its financial statements for FY 2017
    • Closure of a number of underperforming stores, and a restructuring program has resulted in a reduction of 53 jobs
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