Shriro Holdings Ltd. (AU:SHM) has released an update.
Shriro Holdings Ltd. has reported a revenue decrease to $119.5M, down 3.7% from the previous year, primarily due to lower export sales and an overstocked market. Despite one-off costs associated with strategic changes and ERP system implementation, the company managed a profit after tax of $6.9M. Shriro is optimistic about future growth following a significant restructuring and a new distributor partnership aimed at reducing costs and improving profits.
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