CCG: Business update and restructure

COMMS GROUP LTD

• Comms Group is implementing a restructure to reduce non-core costs and improve profitability, with expected annualized savings of about $2m in operating costs.
• The company is on track to achieve an underlying EBITDA of $5mil+ for FY23, expecting to reach an annualized EBITDA of about $7m, given the restructuring and synergy cost savings.
• Progress continues in the Global business unit, with an enhanced contractual arrangement with key customer Vodafone to be announced in the coming weeks.

2023-04-04 08:26:00