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Stock Market & Financial Investment News

News Breaks
December 11, 2012
17:30 EDTGEFGreif provides outlook for FY13
"Factors impacting the global economy during FY12 are expected to continue into FY13. These include challenging market conditions driven by macroeconomic and political uncertainties. For FY13, we anticipate a slight increase in volumes compared with FY12 and margin improvement based on stable raw material costs, coupled with improved operating performance and full realization of the recent containerboard price increase. We anticipate that EBITDA will be between $450M-$500M for FY13. Additionally, net interest expense is anticipated to be below FY12, reflecting lower debt levels. Capital expenditures are expected to be between $140M-$150M for FY13. The book tax rate is expected to be between 31%-34% for FY13.
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