Coventry Group Limited (ASX: CYG) has unveiled its FY23 annual report, showcasing a noteworthy improvement in trading performance. The Group achieved impressive year-on-year EBITDA growth and marked its sixth consecutive year of both sales and EBITDA expansion. Notably, Group sales soared by 11.2% to reach AU$358.5 million (from AU$322.3 million in FY22), accompanied by a 9.7% increase in Group EBITDA, amounting to AU$17.0 million.
The Group's EBIT before Significant Items also witnessed a rise of 10.0%, reaching AU$15.6 million. While the statutory net profit for the year was reported at AU$2.5 million (compared to AU$4.8 million in FY22), Coventry retains a strong financial position, boasting Net Tangible Assets of AU$36.8 million and Net Assets of AU$113.0 million as of June 30, 2023. Noteworthy developments also include the renewal of an AU$ 55.0 million NAB facility extending to July 2026, and a net debt of AU$33.5 million by the end of June 2023.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
