8VI Holdings Ltd Turns Profit Despite Revenue Fall

8VI Holdings Ltd (AU:8VI) has released an update.

8VI Holdings Ltd reported a decline in revenue by 35.4% for FY2024, citing strategic efforts to streamline operations and the suspension of investing programs by VI College. Despite the downturn in revenue, the company saw a net profit of S$1.3 million, a significant turnaround from the S$9.6 million loss in the previous year, thanks to cost-cutting measures and operational restructuring. No final dividend will be paid for FY2024, and net tangible assets per security increased to S$0.10.

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