Appendix 4D and Half Year 2025 Accounts
| Stock | Ashley Services Group Ltd (ASH.ASX) |
|---|---|
| Release Time | 21 Feb 2025, 2:13 p.m. |
| Price Sensitive | Yes |
Ashley Services Group Reports H1 2025 Results
- Revenues down 8.5% to $266.1 million
- Profit after tax up 80% to $1.8 million
- Interim dividend of 0.8 cents per share declared
Ashley Services Group Limited has reported its financial results for the half-year ended 31 December 2024. Revenues from ordinary activities were down 8.5% to $266.1 million, primarily due to a 39% decline in construction and engineering revenues in Victoria. Profit after tax for the half-year was up 80% or $813,000 to $1.8 million. EBITDA for the period was $5.4 million, up 6.6% on the prior corresponding period. The company's labour hire division saw EBITDA decline 24% to $6.7 million, while the training division EBITDA fell $1 million to $1 million. Corporate overheads were reduced by $0.4 million. The company's net assets increased to $31.9 million, up $1.45 million from 30 June 2024. Net debt increased to $19.65 million. The company has declared a fully franked interim dividend of 0.8 cents per share, payable on 14 March 2025. The company expects continued competitive conditions in the labour hire market in FY25, with its construction and engineering exposed brands facing ongoing uncertainty in Victoria and reduced public funding available for its training division. The company is focused on diversifying revenues, growing its technical services and horticulture divisions, and improving margins and efficiencies across the business.
The company expects continued competitive conditions in the labour hire market in the financial year ending 30 June 2025 (FY25). No other high-importance, price-sensitive forward-looking financial metrics were provided.
The company is focused on diversifying revenues, particularly in higher margin sectors, and continuing to improve efficiency. This includes growing the technical services division, expanding in the horticulture sector, capitalizing on strengths in the training division, improving margins in the supply chain, retail and manufacturing labour hire sectors, and improving efficiencies and lowering costs through system and process improvements.