Buhler Industries Inc. (TSE:BUI) has released an update.
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Buhler Industries Inc. has reported a 27% increase in revenue to $71.1 million for the first quarter, yet faced a $2.2 million loss due to a rise in foreign exchange loss, interest expenses, and a decrease in gains from asset disposals. Despite the loss, the company has a positive outlook for 2024 with higher sales projections, a strong demand for its agricultural machinery, and the support of its new parent company, Basak Tractor. These factors, along with improved supply chain management, are expected to drive a return to profitability and better margins.
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