15 May 2010

Water cooler company predicts $20m loss

9:46 am on 15 May 2010

Listed water cooler company Just Water International says it is close to selling its Australian business but still expects to make a full year loss of about $20 million.

In a trading update, Just Water says the sale of Clearwarter Filter Systems is still conditional on documentation and financing.

Whatever the outcome, it will still have to write down $18 million in losses due to the poor performance of the business.

That, coupled with a slump in sales in the second half of this year, will result in a full year before-tax loss of about $20 million.