Funtastic expecting $23m EBITDA loss for 2009

Funtastic expecting $23m EBITDA loss for 2009

Toymaker Funtastic (ASX:FUN) has warned it is expecting an EBITDA loss of up to $23 million for the 2009 calendar year.

The company’s discontinued businesses will also report a loss of around $4 million, Funtastic said in a statement to the market.

Revenue is expected to be 15% lower in 2009, due to poor sales in its Toy and Judius businesses.

Funtastic has blamed the decline in trading conditions and tough retail conditions in September and October for the anticipated loss, as well as the volatility of the Australian dollar in the early part of the year.

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Tags Funtastic Guidance Retail

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