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Cement giant Adelaide Brighton pulls profit guidance for 2020 Australias largest cement group, Adelaide Brighton,...

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Accounting

Cement giant Adelaide Brighton pulls profit guidance for 2020

Australias largest cement group, Adelaide Brighton, has pulled its profit guidance for calendar 2020 because of the economic uncertainty resulting from the coronavirus , but emphasised it has $450 million in cash and undrawn bank facilities.

Are there any positive or adverse consequences for the share price of Adelaide Brighton from the firm withdrawing their profit guidance? Explain what these consequences could be and why?

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