Shriro Holdings Ltd. ( (AU:SHM) ) has issued an announcement.
Shriro Holdings Ltd. reported a 12.9% decline in revenue to $55.9 million for the six months ending December 2024, attributed to its strategic shift from wholesaling to importing in Australia, reduced demand for BBQ products in Europe, and consumer spending pressures. Despite the revenue drop, EBITDA rose by 3.8% due to a lower operating cost base following a business restructure. The company successfully implemented a new ERP system and completed a $15 million share buy-back, resulting in zero debt and $28.3 million in cash, which is expected to enhance future earnings per share.
More about Shriro Holdings Ltd.
Shriro Holdings Ltd. operates in the consumer goods industry, focusing on products such as seasonal goods, BBQ equipment, and watches. The company is transitioning from a wholesaler to an importer in Australia and is involved in the distribution of its products in markets including the USA and Europe.
YTD Price Performance: 2.63%
Average Trading Volume: 32,360
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$60.76M
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