Tabcorp Holdings' (ASX:TAH) will continue its cost-cutting program in fiscal 2025 in a bid to simplify its organization, said Chief Executive-elect Gillon McLachlan during the company's annual general meeting, according to a Wednesday filing with the Australian bourse.
During the meeting, Executive Chairman Bruce Akhurst said that the gaming company is currently advancing its transformation into a simpler, leaner organization via the Genesis cost program.
The program resulted in AU$25 million in savings before tax in fiscal 2024, the filing added.
"We are targeting further savings this financial year," said McLachlan. "I am working with the team on a detailed review of our entire operating cost base as well as our capital spend to identify and execute on further opportunities to reduce our cost base."
McLachlan said there will be continued change in the company, with the new structure to be announced in the coming weeks.
Company shares slid almost 2% in recent Wednesday trade.
Price (AUD): $0.46, Change: $-0.0080, Percent Change: -1.72%
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