• Revenue of $103.3M, down 13.6% due to transition from wholesaler to importer and subdued discretionary spending
• EBITDA of $15.3M, up 5.5% and above market guidance of $14.5M
• NPAT of $7.5M, an 8.7% increase on pcp

Shriro Holdings Ltd (ASX: SHM) has announced its audited results for the year ended 30 June 2025. The company reported revenue of $103.3 million, down 13.6% on the previous corresponding period (pcp), primarily due to lower seasonal product sales as Shriro ceased wholesaling seasonal products in Australia, appointing a distributor for this category. Export sales were also softer, reflecting continued weakness in the global BBQ market. Higher interest rates and cost-of-living pressures further dampened demand for Shriro's discretionary seasonal products. Australian watch sales were similarly affected, with some supply constraints in the first half of the year also contributing. Despite stable unit volumes, watch revenue declined, particularly in Australia. In New Zealand, market conditions for consumer products remained subdued; however, revenue was in line with the pcp. The strategic transformation of the Australian Seasonal business progressed as planned, with the company appointing Blaze Grills as its USA distributor. Operating expenses fell 18.5% to $31.2 million, reflecting the exit from the Australian Appliances business and the restructuring of the Australian Seasonal business. EBITDA was $15.3 million, up 5.5% on the pcp, supported by prudent cost management. Shriro's balance sheet remains strong, with net cash of $13.9 million and $37.2 million of net assets.

Shriro expects EBITDA to increase in FY26 compared with FY25. The company is focused on expanding its portfolio of brands, with the exclusive distribution of Manhattan Portage from September 2025, and the release of new BBQ products, including a four-burner BBQ and new portable offerings. These initiatives are expected to positively contribute to results from FY27 onwards.