Not good that comparable sales in the first weeks of 2H 25 are down 2.6 per cent on pcp. 2H is always MYR's weakest, and could well be lossmaking or only marginally profitable.
Pleasing that refinancing will deliver a few million dollars in savings through arrangements with CBA and NAB.
Finally, MYR has gone into detail on its Ravenhall National Distribution Centre automation. I previously highlighted the lack of information emanating from the company.
It hasn't gone to plan. Having stock 'trapped' is far from ideal. A few months ago, regrettably and tragically, an employee or contractor lost his life at the NDC.
MYR doesn't state anything about compensation from the company that manufactured (or installed) the robotic facility so one assumes this isn't likely.
From 2H 25, MYR will be a dramatically changed operation as results from the inclusion of c.700 retail stores such as Just Jeans begin to be incorporated in results.
MYR Price at posting:
76.0¢ Sentiment: Hold Disclosure: Held
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