Duro Felguera (ES:MDF) has released an update.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Duro Felguera is addressing an unquantified reservation related to their Djelfa Project in Algeria, which led to a more conservative accounting treatment and a provision of approximately 100 million euros. Despite this adjustment, the company’s net equity remains positive, and efforts are ongoing to resolve the project’s financial and legal challenges. The Board is set to approve the restated financial statements, aiming for a beneficial resolution.
For further insights into ES:MDF stock, check out TipRanks’ Stock Analysis page.