Bell Equipment warns investors of steep fall in earnings

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Shareholders also advised the earth-moving equipment group’s results will contain a prior year adjustment

Earth-moving equipment group Bell Equipment on Tuesday warned investors of a severe drop in its earnings for its 2020 financial year to end-December.

The expected decrease in earnings was mainly because of the recognition of an impairment loss on the revaluation of a property owned by the group in Zambia and an increase in the refund liability relating to residual guarantees provided to a financial institution to support the financing of equipment sales to customers.

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