360 Capital Group Limited (AU:TGP) has released an update.
360 Capital Group has reported a significant turnaround with a statutory net profit of $0.3 million for FY24, a stark contrast to the previous year’s $20.8 million loss. Despite a quiet period in the commercial real estate market, the Group’s simplification strategy and lack of reliance on one-off fees have positioned it for growth. The Group also reported strong liquidity with a cash balance of $111.4 million after selling its investment in Hotel Property Investments and executing a share buyback program.
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