ALC alcidion group limited

Ann: Alcidion FY24 Appendix 4D and Half Year Report, page-2

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    No surprises here. We were aware of the massive costs coming from staff. I wasn't expecting revenue to exceed previous years, thought it would be significant down, but i'll take that.

    Key point here which i was looking for about cutting costs

    Recognising continued procurement delays across both the ANZ and UK markets and the need to appropriately balance
    future growth potential against the current cost base, in Q3 Alcidion will implement annualised costs savings, primarily
    via the reduction of staff costs, of approximately $6.4M, resulting from:
    • $2.4M of annualised cost savings realised in the first half of the year; and
    • $4.0M of annualised cost savings, to be implemented during the third quarter
    Given the various timings for the cost savings, coupled with restructure and redundancy costs, Alcidion will realise
    approximately $2.2M of the proposed costs saving in FY24.
 
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