• Revenue down 12.9% to $55.9M, primarily due to reduced seasonal product sales
• EBITDA up 3.8% to $10.8M, business on track to meet FY25 EBITDA guidance of >$14.5M
• Interim dividend of 2.0 cents per share declared

Shriro Holdings Ltd reported a 12.9% decrease in revenue to $55.9M for the half year ended 31 December 2024, primarily due to reduced seasonal product sales in Australia and lower export sales. The company's Australian watch sales were also negatively impacted, partly due to supply availability issues. However, the New Zealand market conditions remained subdued but revenue was in-line with the prior corresponding period. The strategic change in Shriro's Australian Seasonal business was effective on 30 June 2024 and has progressed as planned. Shriro is focused on implementing a similar model in the USA and is close to finalizing an agreement with Blaze Grills, owned by BBQ Guys. Operating expenses were reduced by 20.2% to $15.8M as a result of the restructure of the Seasonal business in Australia. EBITDA increased 3.8% to $10.8M, and the company is on track to meet its FY25 EBITDA guidance of greater than $14.5M. The balance sheet remains strong, with net cash of $24.7M and net assets of $52.7M. Shriro paid $22.7M in cash to shareholders by way of dividends and a capital return, and also completed a $15M off-market share buy-back. On 27 February 2025, the directors declared an interim dividend for the half-year 31 December 2024 of 2.0 cents per share fully franked.

Shriro is on track to meet its FY25 EBITDA guidance of greater than $14.5M.