Hazer Group Ltd. (AU:HZR) has released an update.
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Hazer Group Limited reported a 40% increase in revenues to $3,794,229 for the fiscal year ended 30 June 2024, driven by higher R&D tax income accruals associated with their Commercial Demonstration Plant (CDP). Despite the revenue increase, the company’s losses widened by 56% to $19,067,366 due to significant investment in the CDP, resulting in increased operational expenses and an impairment expense. The company ended the year with $12,821,547 in cash and cash equivalents, reflecting a strong financing cash inflow primarily from the issue of new shares.
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