Turnaround Complete: set for growth

Turnaround Strategic Objective Established in October 2018

• Deliver $11m annualised Profit Improvement Plan
•  Return Group Gross Margins to market competitive target of 14%-14.5%
•  Exit low margin contracts where no strategic benefit
•  Ensure payroll compliance – move all staff to Modern Award
•  Right size the overheads while improving service delivery and resetting for growth
•  Address all historical financial issues
•  Reset the Balance Sheet and improve working capital
•  Refinance the banking facilities
•  Automate sustainable controls
•  Ensure compliance to contracts and legislation
•  Materially improve HSE and Public Liability outcomes
•  Improve client confidence in the Millennium Brand to enable contract retention and growth

Presentation

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02345066-3A562018?access_token=83ff96335c2d45a094df02a206a39ff4