Dragon Group International Limited (SG:MT1) has released an update.
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Dragon Group International Limited reported a decrease in revenue to US$471,000 in the first quarter of 2024, down from US$524,000 in the previous year, attributing the decline to lower customer demand and a shift in sales mix that resulted in a drop in gross profit margin from 18.5% to 15.1%. The company’s operating expenses have increased, and as of March 31, 2024, the group has a shareholders’ deficit of US$5.7 million and cash equivalents of US$0.6 million. Following its failure to meet the financial exit criteria by the extended deadline, trading of the company’s securities has been suspended pending the completion of an exit offer.
For further insights into SG:MT1 stock, check out TipRanks’ Stock Analysis page.
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