TasFoods Limited Reports FY2024 Financial Challenges, Declines Revenue

TasFoods Limited reported a challenging financial year for 2024, with a net loss of $10.5 million and an operating EBITDA loss of $2.3 million, despite a 35% improvement from the previous year. The company attributed its struggles to increased competition and a market oversupply of poultry, which negatively impacted sales volumes and revenue. However, TasFoods successfully reduced corporate overhead costs and completed the integration of Nichols Hatchery, aiming to strengthen its operational efficiency. Additionally, the company expanded its Isle & Sky Pet Treats range, achieving a 209% sales volume increase. TasFoods emphasized its commitment to corporate governance and transparency, releasing its 2024 Corporate Governance Statement and annual report. The overall performance indicates a need for strategic adjustments to regain market confidence and improve financial outcomes.