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Tamawood Limited (ASX:TWD)

ALERT: Price-sensitive ASX Announcement for TWD
Current share price for TWD : $2.550 -0.35 (-12.07%)+
Announcement
Release
11 Nov 2025 3:46PM
Price at Release
$2.900
Full Release
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Summary
Tamawood Limited has provided an update on the rollout of its new enterprise project management software, which has resulted in a 39% increase in sales for the initial months of FY26. The company's cash holdings have also risen to $5.85 million. The costs for the implementation were covered by their software partner, Senterprisys Limited. However, inaccuracies in calculating Work in Progress (WIP) were identified, prompting a revision of WIP calculations under the AASB 15 Standard. Consequently, a trading blackout has been initiated until the audits are completed. Chairman Lev Mizikovsky has assumed full responsibility for the matter.
Key Points
  • Tamawood Limited has implemented a new enterprise project management software.
  • The implementation has led to a 39% increase in sales for the first four months of FY26 compared to FY25.
  • The company's cash position improved significantly to $5.85 million.
  • The software implementation cost was absorbed by Senterprisys Limited.
  • Issues were found in automated reports calculating Work in Progress (WIP) amounts.
  • Revised WIP calculations are being developed in line with AASB 15 Standard.
  • A trading blackout period is in place while audits and reviews are conducted.
  • Chairman Lev Mizikovsky takes responsibility for these issues.
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.