In line with revised guidance, H1 EBITDA declined to a A$5.0m loss reflecting worse than expected market disruption in Australia following sales tax changes, and related execution challenges incl. geographic stock locations. Net cash increased to A$2m reflecting good w/c performance. Although immediate actions were taken in response, including accelerating platform automation and cost savings, improvements are taking longer to flow through. Management is also adopting a more prudent view of whol ....
27 Mar 2019
Actions to offset recent set-backs proceeding slower than hoped
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Actions to offset recent set-backs proceeding slower than hoped
- Published:
27 Mar 2019 -
Author:
Matthew McEachran -
Pages:
4
In line with revised guidance, H1 EBITDA declined to a A$5.0m loss reflecting worse than expected market disruption in Australia following sales tax changes, and related execution challenges incl. geographic stock locations. Net cash increased to A$2m reflecting good w/c performance. Although immediate actions were taken in response, including accelerating platform automation and cost savings, improvements are taking longer to flow through. Management is also adopting a more prudent view of whol ....