February 12, 2018 / 10:34 PM / 2 months ago

BRIEF-Tower Ltd Updates On Financial Impact Of Recent Weather Activity

Feb 13 (Reuters) - Tower Ltd:

* FINANCIAL IMPACT OF RECENT WEATHER ACTIVITY WILL BE APPROXIMATELY $5 MILLION AFTER TAX​

* HAS RECEIVED 150 CLAIMS SO FAR, AS A RESULT OF EX-CYCLONE FEHI; ESTIMATES THAT FINANCIAL IMPACT WILL BE BETWEEN $2.2 - 3.2 MILLION AFTER TAX

* ‍SHOULD DAMAGE FROM TROPICAL CYCLONE GITA EXCEED $5 MILLION, TOWER MAY BE EXPOSED TO A FURTHER $3.5 MILLION AFTER TAX​‍​

* RECEIVED ABOUT 300 CLAIMS AS A RESULT OF NEW YEAR STORMS; ESTIMATES FINANCIAL IMPACT WILL BE BETWEEN $1.4 - $1.8 MILLION AFTER TAX

* ALL FIGURES IN NZ$​ Source text for Eikon: Further company coverage:

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