BWP Trust withdraws Guidance23 March 2020
Whilst Bunnings stores remain open, the BWP Trust announced today that, given the uncertainty in relation to the duration and impact of the COVID-19 pandemic, it is also felt it was appropriate to withdraw its distribution guidance for the financial year ending 30 June 2020.
The business also withdrew any forward-looking statements.
BWP’s balance sheet and debt position continues to remain robust and the Trust is well-positioned with $129 million of cash and committed undrawn bank facilities available and gearing levels of 18.0 per cent as at 31 December 2019. BWP has no debt maturing in the next 12 months, with the next facility maturing on 30 April 2022.
BWP’s Managing Director, Michael Wedgwood said “As the impacts of the COVID-19 pandemic continue to escalate across our community and economy, we are acting swiftly, to not only protect our employees and stakeholders, but to ensure our business is financially robust, for what could be a sustained period of disruption”.