Greencross shares dive

GREENCROSS shares plummeted 22 per cent to a five-year low after the Brisbane-based veterinary chain and pet shop owner downgraded its full-year earnings forecast.

Greencross expects underlying earnings before interest, tax, depreciation, and amortisation of between $97 million and $100 million due to between $16 million and $20 million of impairments.

That compares to February’s earnings guidance of $108 million and shares fell sharply on the downgrade. Greencross shares closed at $4.18 while NVL shares shed 5.7 per cent to close at $2.31.