Key points
- Revenues from ordinary activities decreased by 6% to $125,619,000
- Net profit from ordinary activities after tax increased by 100% to $31,000
- Net loss for the year increased by 375% to $(105,328,000)
- No dividends were paid or proposed for FY 2026
- The company breached banking covenants but complied with revised covenants by June 30, 2026
Full summary
Close the Loop Ltd's annual report for the year ended June 30, 2026, reveals a 6% decrease in revenues from ordinary activities to $125,619,000, and a 100% increase in profit from ordinary activities after tax to $31,000. The company reported a substantial net loss of $105,328,000, up 375% from the previous year. The financial performance was impacted by discontinued operations and restructuring costs. Despite breaching banking covenants, the company complied with revised covenants by June 30, 2026. No dividends were paid or proposed for FY 2026.
Guidance
EBITDA for FY 2026 from continuing operations is $12.4 million, a 33% decrease from the previous year
Outlook
The company expects to refinance its bank debt by December 31, 2026, and has the ongoing support of its bankers, with debt facilities expiring in 2029.