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Coventry Group Limited (ASX:CYG)

ALERT: Price-sensitive ASX Announcement for CYG
Current share price for CYG : $0.320 -0.15 (-31.91%)+
Announcement
Release
26 Feb 2026 6:45PM
Price at Release
$0.470
Full Release
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Summary
Coventry Group Limited reported its financial results for the first half of fiscal year 2026. The company achieved group sales of $187.4 million, a slight increase from the previous year. However, the underlying EBITDA decreased significantly by 67.7% to $3.2 million, resulting in a statutory net loss of $9.7 million for the half-year. The new management team, led by CEO Nik Alpert, has initiated a series of strategic measures to improve performance, including cost reduction initiatives and investment in new stores. A comprehensive balance sheet review was conducted, resulting in a non-cash adjustment of $5.98 million. The company remains focused on organic growth and anticipates continued improvement in the second half of the year.
Key Points
  • Group sales for 1H FY26 were $187.4 million.
  • Underlying EBITDA fell by 67.7% to $3.2 million.
  • Statutory net loss for the half-year was $9.7 million.
  • New management team implements strategic cost reduction initiatives.
  • Investment in three new Konnect stores and relocation of Fluid Systems site.
  • Balance sheet review led to a non-cash adjustment of $5.98 million.
  • Focus on organic growth and anticipated continued improvement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.