While most suppliers have withdrawn guidance due to market uncertainty, Zenith improved its full-year EBITDA outlook from the A$26-27 million forecast in November 2019.

The company now expects to report underlying EBITDA of about $30 million, excluding any costs associated with the scheme of arrangement with Pacific Equity Partners.

"The increase in EBITDA is attributed to increased power consumption at a number of sites, and the commissioning of Jundee stage four and Daisy Milano stage three projects ahead of the scheduled completion time," Zenith said.

However, it expects revenue to $59-60 million, down from the previous guidance of $62-64 million, mainly due to lower engineering procurement and construction work achieved in the current half, and the expiry of the Phosphate Hill manage, operate and maintain contract in August 2019.

The company warned the COVID-19 pandemic could impact its forecasts.

Last month Zenith agreed to a $1.01 per share buy-out from PEP, valuing the company at about $150 million.

The deal is likely to be finalised in early July.

Zenith shares last traded at $1.