Gale Pacific Limited (AU:GAP) has released an update.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
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.
Trending Articles:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue