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An announcement from Parkd Ltd. ( (AU:PKD) ) is now available.
PARKD Limited reported a 37% decline in half-year revenue to $3.88 million and a sharp increase in loss to $1.03 million, driven mainly by the Audi Centre Myaree project nearing completion and reduced construction volumes. The company’s gross margin turned negative as final-stage project costs and commissioning expenses for its Penrith prefabrication facility weighed on profitability, while no research and development rebate was booked in the period.
Management highlighted that initial income from East Coast operations, prefabrication activities, and ongoing technical and advisory services partly offset the revenue drop and are expected to underpin future growth. With cash of $0.8 million and net tangible assets per share rising to 0.04 cents, PARKD is positioning its expanded prefabrication capacity and Fielders partnership to drive upcoming project work and strengthen its financial profile in subsequent reporting periods.
The most recent analyst rating on (AU:PKD) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Parkd Ltd. stock, see the AU:PKD Stock Forecast page.
More about Parkd Ltd.
PARKD Limited is an Australian construction and engineering company focused on modular and prefabricated parking and related infrastructure projects. The business is expanding from its core Western Australian operations into East Coast markets, supported by a prefabrication facility in Penrith and a partnership with Fielders for prefabricated module supply.
Average Trading Volume: 308,069
Technical Sentiment Signal: Sell
Current Market Cap: A$4.83M
For an in-depth examination of PKD stock, go to TipRanks’ Overview page.