Saferoads Holdings Reports Significant Annual Loss

Saferoads Holdings Limited (AU:SRH) has released an update.

Saferoads Holdings Limited experienced a challenging fiscal year, reporting a significant loss before tax of $2.665 million, largely due to a decrease in product sales and additional costs from fines and impairments. Despite these setbacks, the company saw growth in its equipment rental services, although increased finance costs and a higher gearing ratio underscore ongoing financial pressures. The company also undertook a rights issue to raise capital and initiated a restructuring to cut costs.

For further insights into AU:SRH stock, check out TipRanks’ Stock Analysis page.