egolinews.com

Tox Free Solutions Limited (TOX) has requested a trading halt pending a capital raising announcement. The waste management company, at the same time, said that it was expecting EBITDA for the current year of between $26 million and $28 million, up from the $23 million EBITDA reported to 30 June 2009.

The company said the upgraded guidance came on the back of new contracts and organic growth for the company.

Tox Free Solution’s Chairman, Douglas Wood said the company remained in a strong position.

“Tox Free is proud to declare that it is well positioned to deliver its sixth successive year of earnings growth for its shareholders," Mr Wood said.

The forecast growth for the company was, however, dependent on a variety of factors related to the Gorgon contract as well as the timing of a number of civil infrastructure projects and oil and gas drilling programmes.

At 1039 AEDT, Tox Free Solutions shares were halted at $2.48.

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