News: BEX Bikeexchange Starts 2024 With Intention To Drive Business To Profitability

July 28 (Reuters) - Bikeexchange Ltd (BEX) :

• STARTS 2024 WITH A CLEAR INTENTION TO DRIVE BUSINESS TO PROFITABILITY
• EXPECTS TO HAVE A SIGNIFICANTLY REDUCED LEVEL OF COMMITTED OPERATING CASH OUTFLOWS IN Q1 FY24
• IN QUARTER, REPORTED A A6% INCREASE IN ECOMMERCE TOTAL TRANSACTION VALUE VERSUS Q4 2022 TO A$8.0M
• ANTICIPATED INCREASE IN REVENUES FROM LAUNCH OF NEW CONSUMER FRONT END WILL SUPPORT BUSINESS WELL INTO FY24
• EXITED ITS RETAIL BUSINESS OPERATIONS IN COLOMBIA
• NEW CONSUMER PLATFORM TO GENERATE RETURNS AS PLATFORM LAUNCHED DURING Q1 AND Q2 FY24 POSITIONING GROUP WELL ON PATH TO PROFITABILITY