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The latest announcement is out from DGL Group Limited ( (AU:DGL) ).
DGL Group Limited has disclosed a modified audit opinion in its Full-Year Report due to challenges with inventory valuation and internal controls. The company faced issues with its new inventory management system, leading to a $400,000 inventory write-down. Additionally, an incident of fraud was identified, prompting immediate corrective actions. Despite these challenges, DGL maintains that its financial statements are materially correct, supported by the absence of significant audit adjustments.
The most recent analyst rating on (AU:DGL) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on DGL Group Limited stock, see the AU:DGL Stock Forecast page.
More about DGL Group Limited
DGL Group Limited operates in the manufacturing industry, focusing on chemical manufacturing. The company has been involved in an extensive acquisition program and is implementing a new Group-wide ERP system to enhance its operations.
Average Trading Volume: 212,443
Technical Sentiment Signal: Buy
Current Market Cap: A$152.6M
See more insights into DGL stock on TipRanks’ Stock Analysis page.