• Revenue for March 2025 quarter decreased $6.2m to $62.5m due to softening trading conditions
• Company extended $13m short-term finance facility with Bennamon to March 2026
• Bennamon provided $5m guarantee to increase ScotPac debtor finance facility to $35m

Pro-Pac Packaging Limited (ASX:PPG) provided an update on its activities for the quarter ended 31 March 2025. Revenue for the March 2025 quarter was $62.5 million, a decrease of $6.2 million compared with the corresponding March 2024 quarter ($68.7 million), with trading conditions softening. The company reached an agreement with Bennamon Pty Ltd (a wholly owned subsidiary of Kin Group) to extend the $13.0 million short term finance facility from 31 March 2025 to 1 March 2026. As at 31 March 2025 the company had cash on hand of $0.5 million and unused facilities of $2.9 million. Cash flows from operating activities for the quarter represented an outflow of $4.3 million, reflective of operational performance partially offset by a decrease in working capital. Subsequent to 31 March 2025, Bennamon provided a $5.0 million guarantee to ScotPac (subject to certain conditions agreed between Bennamon and ScotPac). ScotPac temporarily increased the limit of the debtor finance facility from $30.0 million to $35.0 million. The increased limit remains in place, subject to ongoing review. Drawdown availability of the debtor finance facility is subject to the seasonal movements of debtors at any particular point in time ($24.0 million was available as at 31 March 2025).