Oldfields Holdings Limited (OLH) is pleased to provide a
trading update on its 1stquarter
performance for FY13.
Unaudited group revenue for the quarter was $7.3M, compared
to $7.7M in the prior year (down
5%), unaudited EBITDA is $393K compared to $268K in the prior
period (Up 46%).
Revenue in the consumer division is flat, with the Paint
Applications category above prior year and the Storage
category below, whilst revenue from the scaffolding division
is 8% below prior year, due to continued weakness in the
construction sector and a large order fulfilled in
September
2011 which has not been repeated.
Improvements in profitability have been driven by a
structured cost savings program, which includes both product
cost savings and general overheads. In FY12, significant cost
savings were achieved and this year the business is targeting
further savings of $900K, some of these savings will be used
to fund targeted organic growth opportunities.
1st Quarter
$000's FY12 FY13Revenue | 7,662 | 7,282 |
EBITDA | 268 | 393 |
The Directors expect EBITDA in FY13 to show significant
improvement on prior year.
Contact
Chris Giles Robert Coleman
Chief Executive Officer Chief Financial Officer
+ 61 2 4645-