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Korvest Ltd (ASX:KOV)

ALERT: Price-sensitive ASX Announcement for KOV
Current share price for KOV : $17.760 6.11 (52.45%)+
Announcement
Release
25 Jul 2025 3:36PM
Price at Release
$11.650
Full Release
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Summary
Korvest Ltd (KOV) delivered a record performance for the year ended 30 June 2023, with a significant increase in profit and revenue driven by heightened demand in core project and infrastructure sectors. The final dividend reflected the strong results, while operational improvements and automation initiatives contributed to enhanced margins and cash flows. The company remains well-positioned for future growth, focusing on key market sectors and continuing its commitment to governance and sustainability.
Key Points
  • Korvest Ltd (KOV) reported a record profit after tax of $14.1 million for the year ended 30 June 2023, up 98.6% from the previous year.
  • Revenue rose by 27.6% to $97.5 million, driven by strong demand across key project and infrastructure markets.
  • The final fully franked dividend of 25 cents per share was declared, bringing the total for the year to 52 cents per share.
  • Gross margin improved due to increased volumes, product mix, and productivity initiatives offsetting inflationary pressures.
  • Operating cash flow increased to $19.4 million, and the company ended the year with net cash of $21.5 million.
  • Significant investments were made in plant and equipment, including automation projects to enhance manufacturing efficiency.
  • Board remains confident in long-term growth potential due to robust demand from infrastructure, renewable energy, and data centre sectors.
  • Risks identified include supply chain volatility, inflationary impacts, and skilled labour shortages.
  • The company’s governance, environmental, and social responsibility initiatives continue to be a focus.
  • Directors and management expressed appreciation to employees for their efforts during the year.
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.