Oldfields Holdings Ltd (AU:OLH) has released an update.
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Oldfields Holdings Ltd is expanding its market presence in the United States by partnering with Clear Port Distributor LLC to distribute its paint tools and scaffolding products, aiming to sell through major retailers and online platforms like Amazon. Despite a promising outlook, the company is facing challenges including a recent product recall involving a component of its scaffolding systems, which is expected to impact EBITDA negatively by around $500,000. Additionally, Oldfields projects a full-year EBITDA loss for FY24 due to non-recurring costs and losses in its East Coast scaffolding service business.
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