Wellard Limited announced audited consolidated financial results for the year ended June 30, 2018. For the period, the company reported revenue of AUD 291,115,000 against AUD 497,851,000 for the same period a year ago. Loss from continuing operations before income tax was AUD 36,436,000 against AUD 74,528,000 for the same period a year ago. Net loss for the period after tax was AUD 36,437,000 against AUD 75,337,000 for the same period a year ago. Diluted loss per share was 6.9 cents against 17.7 cents for the same period a year ago. Net cash outflows from operating activities were AUD 335,000 against AUD 20,059,000 for the same period a year ago. Purchase of property, plant & equipment was AUD 5,843,000 against AUD 15,711,000 for the same period a year ago. Purchase of intangible assets was AUD 102,000 against AUD 499,000 for the same period a year ago. EBITDA was AUD 9.9 million against LBITDA of AUD 26.1 million for the same period a year ago. Net debt was AUD 136.6 million against AUD 143.3 million for the same period a year ago.

The company's operating and financial performance in the fourth quarter of fiscal 2018 was encouraging, and with the revenue visibility afforded by long term charters of some of the vessels, it is expecting to start fiscal 2019 in a better position than fiscal 2018.