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.
ALC Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
