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.
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