Lynch Group Holdings Limited (ASX: LGL) reports stable demand trends for floral products, with revenue growth projected at approximately 4% for the first half of FY24. The positive performance is supported by steady demand for lower-priced supermarket floral offerings and the successful introduction of new brands during the first half, driving sales momentum. Stronger revenue growth is anticipated in the second half, boosted by planned volume increases for key events like Valentine’s Day and Mother’s Day, which are major contributors to customer demand.
However, potted products have underperformed compared to floral items due to a reset in consumer interest following peak demand during the COVID years. Australian EBITDA margins have remained consistent with the previous year in the first half. Additionally, the SAP system upgrade is advancing as planned, with the first phase expected to be completed within FY25, and costs aligned with prior estimates of approximately AU$1.5 million.
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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.
