Lynch Group Holding Ltd ( (AU:LGL) ) just unveiled an update.
Lynch Group Holdings Limited has reaffirmed its FY25 guidance and announced the closure of two of its three Australian potted farms as part of a strategic review. The decision to close these farms, including the accelerated closure of the Queensland farm due to weather-related damage, is not expected to materially impact the company’s earnings. The closures will result in non-cash costs of $8.5 million to $9.5 million and one-off cash costs of $3.5 million to $4.0 million. Despite these changes, the company anticipates a 6% revenue growth for FY25, driven by strong performance during key event periods.
More about Lynch Group Holding Ltd
Lynch Group Holdings Limited operates in the floral industry, focusing on the design and supply of value-added floral and potted products, along with in-store merchandising support. The company does not rely on owning and operating its own farms, instead sourcing products through long-term third-party grower supply commitments.
YTD Price Performance: -1.96%
Average Trading Volume: 43,043
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$214.2M
Learn more about LGL stock on TipRanks’ Stock Analysis page.