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Saferoads Holdings Limited ( (AU:SRH) ) just unveiled an update.
Saferoads Holdings Limited announced a significant transformation in its operations following a challenging financial year. The company sold its Road Safety Rentals business to On-Site Rental group for $10.8 million, allowing it to repay debts and focus on its core product sales business. This strategic move included a three-year product supply agreement with On-Site, ensuring continued revenue through product orders. The sale resulted in a $4.8 million profit, part of which was distributed to shareholders. Saferoads is now positioned to regain market share with new senior sales executives and expects a profit of approximately $500,000 for the first half of the financial year.
More about Saferoads Holdings Limited
Saferoads Holdings Limited operates in the road safety industry, focusing on the development and sale of road safety products. The company primarily provides products and services related to road safety, with a market focus on enhancing safety measures through innovative solutions.
Average Trading Volume: 33,624
Technical Sentiment Signal: Buy
Current Market Cap: A$4.2M
For an in-depth examination of SRH stock, go to TipRanks’ Overview page.