The latest announcement is out from TasFoods Limited ( (AU:TFL) ).
TasFoods Limited reported a challenging financial year for 2024, with an operating EBITDA loss of $2.3 million, marking a 35% improvement from the previous year. Despite a significant reduction in corporate overhead costs and successful integration of Nichols Hatchery, the company faced a net profit after tax loss of $10.5 million, exacerbated by a $6 million non-cash impairment charge. The oversupply of poultry in the market has increased competition and lowered prices, impacting revenue and cash position. The company continues to focus on cost optimization and growth in its pet treat strategy.
More about TasFoods Limited
TasFoods Limited operates in the poultry industry, focusing on poultry as its primary operating asset. The company has streamlined its operations following a significant restructure in 2023, and it also engages in the development and distribution of pet treats.
YTD Price Performance: -50.0%
Average Trading Volume: 667,847
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$3.93M
Learn more about TFL stock on TipRanks’ Stock Analysis page.