Brief: Simonds Group Says Completed Next Stage Of Ongoing Review Of Operations
04/04/2023 24:27
April 4 (Reuters) - Simonds Group Ltd SIO.AX :
* COMPLETED NEXT STAGE OF ONGOING REVIEW OF OPERATIONS
* STARTING TO SEE IMPROVEMENTS TO INPUT COSTS AND TRADE
AVAILABILITY
* CONDITIONS WILL CONTINUE TO BE CHALLENGED FOR NEAR TERM
* DEVELOPED REVISED STRATEGY THAT DIVERSIFIES CO'S EXPOSURE
TO
RETAIL SALES BY INVESTING IN ALTERNATIVE AND PROFITABLE CHANNELS
TO MARKET
* IMPLEMENTING SEVERAL INITIATIVES THAT WILL FURTHER REDUCE
OVERHEADS INCLUDING RIGHT-SIZING WORKFORCE TO REFLECT PROJECTED
DEMAND
* SAVINGS FROM REDUCED OVERHEADS WILL BE DIRECTED TO
ACCELERATE
ENTRY, AMONG OTHERS IN NEW MARKET SEGMENTS OF PROJECTS AND
WHOLESALE
Source text for Eikon: ID:nASX40wfCt
Further company coverage: SIO.AX
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