Brief: Incentiapay Says Implemented Cost Reductions To Accelerate Path To Operating Cash Break-Even

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25/07/2022 02:31

July 25 (Reuters) - Incentiapay Ltd  INP.AX :
    * IMPLEMENTED SIGNIFICANT COST REDUCTIONS TO ACCELERATE ITS
PATH
TO OPERATING CASH BREAK-EVEN
    * LAUNCHED COST RATIONALISATION INITIATIVES INCLUDING A
REDUCTION
OF RESOURCES - BOTH PAYROLL AND PROJECT-BASED CONTRACTING STAFF
    * RESTRUCTURE OF INCENTIAPAY'S OPERATING MODEL IN SOME AREAS
OF
BUSINESS
    * COST RATIONALISATION INITIATIVES AIMED AT DELIVERING
ANNUALISED
RUN RATE COST SAVINGS OF MORE THAN A$4 MILLION FROM FY22 BASE
    * SAVINGS WILL BE REALISED THROUGHOUT FY23

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