Chesswood Group Ltd. (TSE:CHW) has released an update.
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Chesswood Group Ltd. reported a $5.2 million adjusted net loss for Q1 2024, amidst higher general and administrative costs from charged-off leases and loans. The company highlighted the success of their joint venture with Wafra through Bishop Holdings LLC, resulting in $196.8 million in asset sales, and a strategic resizing of their U.S. equipment leasing business. Chesswood sold $341.9 million in finance receivables, a significant increase compared to Q1 2023, and continues to shift towards its asset management model.
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