Close the Loop Ltd. Reports Steady Revenue Amid Operational Challenges

Close the Loop Ltd. ( (AU:CLG) ) has provided an update.

Close the Loop Limited reported that while revenue for the second half of FY25 remains steady at approximately $99 million, EBITDA is expected to be 50% lower due to challenges in North American refurbishment and ITAD operations. The company is addressing these issues by appointing a new CEO for North America and expanding operations at its Mexicali plant. Despite setbacks, Close the Loop sees growth potential in the North American market and has shut down its Melbourne cardboard recycling facility to focus on more profitable ventures. The company has also decided not to proceed with new TonerPlas plants in New South Wales and Queensland, returning grant funding to the NSW Government.

The most recent analyst rating on (AU:CLG) stock is a Hold with a A$0.27 price target. To see the full list of analyst forecasts on Close the Loop Ltd. stock, see the AU:CLG Stock Forecast page.

More about Close the Loop Ltd.

Close the Loop Limited is a leader in the circular economy industry, focusing on refurbishment and IT asset disposition (ITAD) operations, as well as packaging and recycling services. The company operates in key markets including North America, Australia, and South Africa, with a strategic emphasis on sustainable practices and resource optimization.

Average Trading Volume: 451,843

Technical Sentiment Signal: Sell

Current Market Cap: A$35.63M

For detailed information about CLG stock, go to TipRanks’ Stock Analysis page.