Saferoads Holdings Limited (ASX: $SRH) 4th Quarter Financial Highlights and Business Updates

Saferoads Holdings Limited (ASX: $SRH) has reported a 27% decrease in trading revenue to $2.48m and an 11% increase in rental income to $1.38m for the 4th quarter ending 30 June 2024. The company also announced an exclusive distribution agreement with TrafFix Devices for the HV2 temporary barrier in the USA, Canada, and Mexico, anticipating significant orders from the North American market in the 2025 financial year.

Executive Commentary

The company remains committed to navigating the challenges posed by the decline in trading revenue and the ongoing WorkSafe case. We are pleased to have secured the exclusive distribution agreement for the HV2 barrier, which presents a promising opportunity for substantial orders in the North American market. We are also appreciative of the continued support from our bankers as we work towards addressing the breach of our lending ratio covenant and managing our finance facility effectively.

Summary

Saferoads Holdings Limited (ASX: $SRH) reported a decline in trading revenue and an increase in rental income for the 4th quarter ending 30 June 2024. The company's exclusive distribution agreement with TrafFix Devices for the HV2 temporary barrier in North America is expected to open up significant opportunities in the 2025 financial year. Despite the ongoing WorkSafe case and breach of lending ratio covenant, the company is focused on addressing these challenges while retaining the support of its bankers. Saferoads remains committed to its business objectives and is optimistic about the prospects for the upcoming financial year.