Eclipx went into an ASX halt on Monday pending a trading update, which on Wednesday delivered the bleak news that most investors had been expecting.
Eclipx said net profit was down 42.4 per cent compared with the first five months of 2017-18, with the decline having worsened in February.
It declined to be specific on its full-year profit guidance, which will be weaker than last year.
McMillan said in response on Wednesday that in practical terms the merger was now off. McMillan shares gained 3.6 per cent to $13.21
It said the issues raised in the trading update, along with other unspecified matters, meant that “despite every effort having been made by McMillan Shakespeare to understand the issues facing Eclipx, we do not believe it will be p…
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