Globe International Limited (ASX:GLB) Reports H1 FY25 Financial Results and Increases Dividend
Financial Performance
Globe International reported revenue of $95.3 million, a 12% decrease from the prior corresponding period, due to a strategic transition towards a higher-margin brand portfolio. EBIT was $7.1 million, a 3% decline, while EBIT margin increased by 10% to 7.5%. Net profit after tax (NPAT) was $4.8 million, down 3% on PCP.
Capital Management
The Group maintains a strong balance sheet with a net cash position of $17.3 million, up 18%. Globe generated $8.7 million in operating cash flow during the half. The Board declared a fully franked interim dividend of $0.10 per ordinary share, an 11% increase from the prior period, to be paid on 28 March 2025.
Executive Comments
CEO Matt Hill stated, “Globe International’s long-term strategy of building stronger, more profitable brands remains on track. The work we have done and the strategic initiatives we have implemented have improved profitability, and laid solid foundations for further, high-margin growth. We expect to see the benefits continue to flow through to the second half of this financial year.
Our core and emerging brands are performing strongly and increasing market share despite challenging conditions. Pleasingly, we achieved solid momentum across all regions, with international operations growing their contribution to overall Group performance.
With a refined brand and product category mix, market leading core brands across workwear, boardsports, outdoor and streetwear, and a proven track record in developing emerging brands, we are well positioned to deliver strong shareholder returns both this year, and over the long term.”
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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