Oliver’s Real Food Ltd. (AU:OLI) has released an update.
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Oliver’s Real Food Limited reported a disappointing financial performance for the year ending June 30, 2024, with revenues rising by 7.1% but facing a substantial loss after tax of $2,313,007, a stark contrast to the previous year’s profit. The loss is attributed to challenges such as underperforming sales at the Pheasants Nest location, higher operating costs including wages and utilities, and increased competition. Despite these setbacks, the company is implementing cost-cutting measures and marketing initiatives to improve future performance.
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