Pact Group Holdings Ltd. (AU:PGH) has released an update.
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Pact Group Holdings has reported a decrease in total revenue by 4.7% in FY24, largely due to selling off part of its Crates Business, but has seen a rise in underlying EBIT by 6.4% thanks to cost-saving measures and improved supply chain efficiency. Despite tough market conditions, the company managed to turn last year’s reported loss into a $74.9 million profit, while also significantly reducing net debt by $166.7 million. The Board has chosen not to pay a final dividend for the fiscal year 2024.
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