Hospitality group, Savor, expects its earnings to continue growing, as it provides year-end guidance and an update on its banking relationships.
Savor anticipates that its earnings before interest, tax, depreciation and amortisation (EBITDA) for the financial year ending March 31 2024, will be between $8.5 million and $9m, up from $5.2m in the previous year.
The group also projects a net profit after tax of $1.5m to $2m.
Savor's revenue is forecasted to exceed $60m for FY24.
In addition, the company announced a new banking relationship with ANZ, which is expected to have a cost of funds of around 7%.
Savor foresees a debt to EBITDA ratio of approximately 1:1.
The group expressed confidence in its future growth, as it continues to drive cost efficiencies and benefit from improved trading performance.
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