Investors have concerns about the leadership of satellite communications business SpeedCast International after a shock profit downgrade wiped $340 million off its value on Tuesday.
The company announced to the market on Tuesday morning that its 2019 full year earnings before interest, tax and depreciation was expected to be between $200 million and $215 million, compared to previous expectations from the company's annual general meeting in May of $229 million to $245 million.
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Tim Boyd is a journalist, based in Sydney, who writes for the Street Talk column. Connect with Tim on Twitter. Email Tim at tim.boyd@afr.com
