XTEK Limited (AU:HCL) has released an update.
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HighCom Limited faced significant challenges in FY2024, including an earnings downgrade in its Armor division and a large inventory write-off, prompting a comprehensive cost-reduction program. Despite these hurdles, the company saw a revenue increase in the second half, reaching $30.4 million with a positive EBITDA of $2.5 million, supported by the strategic relocation of its XTclave™ system to align with US military requirements. HighCom’s efforts to enhance its market presence and expand its partner network signal a potential turnaround and growth opportunities in the coming years.
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