Australian Financial Reporting (AFR) will continue to provide updates on its business throughout the year, and will publish its quarterly business results and earnings outlook.
In 2018, the company is also set to provide financial results for the third quarter.
The company said that it expects to achieve full year profit of $1.9 billion in 2018, after operating losses of $10.4 million and loss of revenue of $11.4 billion for the three months to March 31.
The results for 2017, 2016 and 2015 were generally positive, but financial results are expected to show a greater deterioration in 2018.AFR said that its outlook for 2019 is a “stable and positive one”, with a profit of around $1 billion.
The year-on-year operating profit was $8.6 billion, a loss of around 80 per cent of its revenue.AFS has reported operating loss in every quarter since 2008, and net loss in the last three years.
The business, which has about $5 billion in cash and $6 billion in long-term investments, has been struggling for years.
It lost around $700 million in 2017 and 2018, before recovering $600 million to $700.4m in 2019.
The majority of its staff have left, and its share price has dropped more than 50 per cent over the past two years.AFF’s management is set to report the results for 2019, but the company said it had not yet decided whether to do so.