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Coventry Group Limited ( (AU:CYG) ) has provided an announcement.
Coventry Group Ltd reported a slight decrease in H1 FY24 sales to $185.3 million but a marginal increase in unaudited EBITDA to $9.9 million despite challenging economic conditions and an ERP upgrade across 73 branches. The company expects sales growth due to its strong value proposition and is focusing on profitable sales growth in 2025, highlighted by the positive performance of its recent acquisition, Steelmasters. The ERP upgrade is complete, and Coventry anticipates further benefits in 2025, with plans for continued market share growth through strategic initiatives in branch expansion and product range enhancement.
More about Coventry Group Limited
Coventry Group Limited operates in the trade distribution and fluid systems sectors, focusing on providing specialized products and services in fragmented multi-billion-dollar markets. The company is committed to growth through new store openings, refurbishments, and product expansion, emphasizing sales and marketing strategies.
YTD Price Performance: -3.66%
Average Trading Volume: 63,418
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$141.4M
See more insights into CYG stock on TipRanks’ Stock Analysis page.
