Adrad Holdings Limited (AU:AHL) has released an update.
Adrad Holdings Limited reports a downturn in demand across its businesses, with a forecasted FY24 revenue of $140m to $144m, marginally above the previous year, and a lower EBITDA projection between 6% to 10% below FY23 actuals. Despite facing project deferrals and additional costs for product upgrades in the Heat Transfer Solutions sector, the company remains optimistic, citing ongoing cost reviews and growth initiatives in Distribution. Adrad affirms its commitment to long-term growth with innovative product development and manufacturing optimization strategies.
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