GALE Pacific Lowers FY24 Financial Outlook

Gale Pacific Limited (AU:GAP) has released an update.

GALE Pacific Limited has adjusted its FY24 financial guidance, anticipating revenues between $172 to $174 million and a profit before tax of negative $1 to $2 million, down from previous expectations. This change is due to lower US retail sales, inventory reductions by US retailers, and higher costs for a new ERP system implementation. Despite this, the company is undertaking cost reduction initiatives to improve future earnings and will discuss full FY24 results and strategies in an August investor conference.

For further insights into AU:GAP stock, check out TipRanks’ Stock Analysis page.