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SAFEROADS HOLDINGS LIMITED — Capital/Financing Update 2020
May 31, 2020
65853_rns_2020-05-31_19e26453-46af-4520-b46d-77115eba3a8a.pdf
Capital/Financing Update
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1 June 2020
ASX ANNOUNCEMENT
Trading update
Further to the Company’s announcement of 25 March 2020, the directors of Saferoads Holdings Limited ( ASX: SRH ) provide a trading update in light of the recent coronavirus (COVID-19) outbreak in Australia.
Whilst the Company has experienced a significant reduction in order intake over the past three months, there are now signs of improvement in our domestic markets as the various government COVID-19 mitigation measures are progressively being relaxed. We anticipate our international markets will take longer to recover due to the COVID-19 restrictions in effect in the countries we are dealing with.
The Company acted swiftly and decisively during this period, instituting cost saving initiatives, including reduced working hours, temporary wage reductions and improved stock management, and also registered for various State and Federal government economic assistance programs, where eligible.
As a result of these actions to safeguard the future viability of the Company and based on the latest unaudited management accounts and forecasts, the directors now anticipate a profit before tax for FY2020 of between $300k and $500k, dependent on timing of delivery of some customer orders.
This announcement has been authorised for release by the Board.
Enquiries/Additional Information:
David Ashmore, Chairman
Ph: 03 5945 6600 Email: [email protected]
ABOUT SAFEROADS
Saferoads is an ASX listed company specialising in providing innovative safety solutions. Headquartered in Pakenham, Victoria with representation across Australia, New Zealand and the USA, the company provides state government departments, local councils, road construction companies and equipment hire companies with a broad range of products and services designed to direct, protect, inform and illuminate for the public’s safety.
Saferoads Holdings Limited ASX: SRH ABN 81 116 668 538
22 Commercial Drive PO Box 2030 Pakenham VIC 3810 Australia
Telephone: +61 3 5945 6600 Website: www.saferoads.com.au