Coventry Group reports sales reaching $375M in FY26
- Coventry Group recorded sales revenue of $375.3 million for FY26 despite a dropped underlying earnings figure.
- The group delivered a reduced statutory net loss of $15.2 million while declining to declare a dividend.
- Cost reductions and branch network adjustments drove a stronger second-half performance across core divisions.
Coventry Group (ASX:CYG) achieved sales revenue of $375.3 million for FY26, representing a 2.8% increase on a constant currency basis.
The group delivered a reduced statutory net loss of $15.2 million while declining to declare a dividend.
The top-line expansion contrasts with underlying EBITDA dropping 23.6% to $9.4 million from $12.3 million recorded in the previous financial year.
Secondary metrics showed statutory net loss after tax narrowed to $15.2m from a $29.6m loss, impacted by $15.7 million in significant items.
The company delivered on its $10 million annualised cost-out target while trimming inventory levels by $10.6 million to total $78.4 million.
Following the announcement, the Coventry Group share price was unchanged at $0.44.
For FY27, the company said the cost base has been reset, trading momentum improved clearly through the second half, and the full benefit of the $10 million cost-out programme is yet to be reflected in run-rate earnings.
The business achieved a stronger second-half operational performance as fourth-quarter EBITDA reached $4.1 million to deliver its highest quarterly figure in 18 months.
