Aluula Composites Inc (TSE:AUUA) has released an update.
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ALUULA Composites Inc. experienced remarkable growth in FY2023, with sales surging by 168%, bolstered by strategic acquisitions and organic expansion across new markets such as outdoor, aerospace, and sailing industries. Despite a significant increase in sales, the company’s gross margin contracted to 26% due to various factors, leading to a net loss of $5,155,427 for the year. Looking ahead, the company is optimistic about leveraging its innovative materials in non-windsport sectors while continuing its growth trajectory.
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