EROAD Limited, a transportation technology services company, today announced details of its Investor Day on 21 March 2023, alongside an update on its business performance and FY23 guidance.
Previous cost-cutting initiatives have reduced the Company's operating costs by $10 million on an annualised basis, with additional cost reduction initiatives targeting a further $10 million.
FY23 revenue guidance has been narrowed to $159m - $164m, and normalised EBIT to between negative $3m and negative $6m.
EROAD has signed a five-year agreement with new Enterprise client, The Fonterra Co-operative Group Limited (Fonterra).
A further update on FY23 trading will be provided in the market release and at the Investor Day.
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