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Gale Pacific Limited ( (AU:GAP) ) has provided an announcement.
Gale Pacific reported that its third-quarter operating cash outflow of $1.3 million was mainly driven by higher U.S. receivables as sales increased ahead of the peak trading season. The company remains in a net cash positive position, showing an $18 million improvement over the prior year, while group operating expenses are down by $6 million, reflecting ongoing efforts to strengthen profit and loss performance.
Management highlighted that point-of-sale data from early in the U.S. peak season show resilient consumer demand, with EBITDA tracking internal forecasts and stable year-on-year EBITDA in Australia and New Zealand. However, the developing conflict in the Middle East is creating headwinds through weaker regional sales and higher input and logistics costs, even as Gale Pacific advances the execution phase of its revised strategy and completes amendments to its banking facilities with HSBC.
More about Gale Pacific Limited
Gale Pacific Limited is an Australian manufacturer and marketer of technical fabrics and related products, serving core markets in the United States, Australia, New Zealand and the Middle East. The company focuses on shade, protection and related solutions, with a strong seasonal exposure to the U.S. summer trading period and consumer demand in outdoor categories.
Average Trading Volume: 115,532
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$23.62M
See more data about GAP stock on TipRanks’ Stock Analysis page.