Prestal Holdings Limited (ASX:PTL) Investor Update
Sales Performance
Prestal Holdings Limited (ASX:PTL) reported a decline in sales for the FY2025 Half Year, recording $12.1 million compared to $16.8 million in the previous corresponding period, marking a decrease of 27.6%. The Company noted that ongoing high-interest rates and rising cost of living have negatively impacted both consumer and business spending.
Statutory Results and Future Outlook
The statutory results are subject to an audit review and adjustments, which are expected to be released in late February 2025. It was highlighted that the statutory results for FY2024 Half Year were influenced by the sale of Prestal’s former consumer products business, resulting in an EBITDA loss of $20.2 million.
Strategic Review and Cost Management
Prestal continues to implement changes following a strategic review conducted in FY2024. The Company is focused on monitoring and reducing costs wherever feasible. Notably, this includes a consolidation into a single office location, now established at 1/30 Tarras Ave, Altona North, VIC 3025.
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