Coventry Group (ASX:CYG) said its board started a strategic review of its business portfolio and appointed external advisors to support this process, following recent unsolicited third-party approaches regarding individual business units, according to a Friday Australian bourse filing.

The board also withdrew its previously issued fiscal 2026 earnings guidance, in light of the review.

Its consolidated group unaudited earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 33.3% year-over-year to AU$3.2 million in the half-year from AU$2.4 million. Its fiscal 2026 first-half unaudited consolidated group sales came in at AU$188.5 million, up 5.1% year-over-year from AU$179.4 million in the prior corresponding period.

The improvement in sales momentum in the second quarter of fiscal 2026 was partially offset by a decrease in gross margin, the impact of its growth investment in new branches, and the one-off impact of the relocation of Fluid's largest branch, per the filing.