It reported a
Despite raising about
In the notes to its financial statement, Hume said that if its forecasts, which assume an immediate increase in profitability based on its cost cutting measures, are not achieved, it would need to rebuild its capital base, which has been hurt by retained losses. Hume said it would expect to secure its capital position by placing more shares and further restructuring. Nevertheless, Hume said it has a "reasonable expectation" that it has adequate resources and enough liquidity for the foreseeable future.
"Even with the improved results in the period under review, the group has still made a loss and has had to restructure some of its operations in order to secure its liquidity and capital positions during the financial year," Freeman said in a statement.
"We continue to make progress towards the creation of a profitable financial services group that has a reasonable spread of diversified revenues and anticipate that the second half of the current financial year will show further improvement towards that goal," the interim CEO added.
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