Hancock & Gore Limited (ASX:HNG) Presents AGM Highlights
Financial Performance
Hancock & Gore Limited reported an underlying net profit after tax of $5.1 million for the full year ended 30 September 2024, representing a 13% increase from FY23. Earnings per share were 1.8 cents, and dividends per share rose by 33% to 2.0 cents. Revenue excluding fair value gains/losses increased by 5% to $7.3 million.
Merger with Schoolblazer
The merger of Mountcastle with Schoolblazer was highlighted as H&G’s key achievement. This merger created Global Uniform Solutions, establishing leadership positions in the UK, Australia, and New Zealand. The combined entity is projected to generate approximately $109 million in revenue and $16.6 million in EBITDA for FY24. The merger brought together experienced management teams led by Chairman Steve Doyle and CEO Joanne Goldman.
Investments Overview
H&G continues to focus on its diversified investment portfolio, including Private Equity, ASX Listed Equities, and real property. The Disruptive Packaging segment remained a key unlisted asset, with FY24 consolidated group revenue reaching A$30 million. A recent capital raise at a 55% premium has accelerated US market penetration.
Group Objectives
For FY25, H&G aims to simplify its structure and strengthen its balance sheet to support the growth of Global Uniform Solutions. The company is also focused on generating returns from non-core assets and advancing its global M&A pipeline. An update on the combined school uniforms business is expected at the FY25 half-year update.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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