Simonds Group Ltd. (AU:SIO) has released an update.
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Simonds Group Ltd. reported a significant turnaround with a $27.3 million improvement in NPAT to $4.0 million for FY24, driven by expanded gross margins, reduced overhead costs, and diversified sales channels despite a challenging market. The company also highlighted a robust liquidity position of $26.6 million and an increase in net assets to $18.5 million. No dividend will be issued as the focus remains on strengthening the company’s net asset position and capitalizing on long-term growth opportunities.
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