Coventry Group Ltd (CYG) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would now like to hand the conference over to Robert Bullis, Chief Executive Officer and Managing Director, and Rod Jackson, Chief Financial Officer of the Coventry Group. Please go ahead. Great, thank you. Hi, everyone. So, Robert Bullis, I'm the CEO and Managing Director of the Coventry Group, and as stated, we've also got Rod Jackson, our CFO, here with us today as well. We're going to cover up on a number of areas during the course. The first one, we'll just touch on the FY23 financial results. Second, we'll give you an update on how our markets are trading and what we think the outlook there is. Third, we'll go through some of our key strategic initiatives and how we're working on those, how they're going. And then finally, we'll look at our growth opportunities, which are still significant across all of the business units that we operate here at the Coventry Group. At the end, you'll get the chance also to ask questions. So first of all, to the FY23 results, pleasingly, our trading performance improved again during FY23, delivering solid sales and pre-AASB16 EBITDA year-on-year growth. As I go through the conference, any references I make to EBITDA are to EBITDA pre-AASB16 and also before significant items. It's our sixth consecutive year of sales and EBITDA growth after a long period of decline for the business. Highlights, 11% sales growth now up to $358 million and EBITDA growth up 9.7% to $17 million. Statutory net profit of 2.5. is lower than the previous year, but we've had, so far, $5.5 million of investment into the transformational ERP system upgrade that we're completing at the moment. The 3.5 Cent Fully Franked Dividend, this is the third consecutive year now that we've managed to pay a dividend. As long as the business has the capacity to do so, t...