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IBC Advanced Alloys ( (TSE:IB) ) has provided an announcement.
IBC Advanced Alloys reported a significant decline in sales and profitability for its Copper Alloys division for the six months ended December 31, 2024. Sales dropped by 29.4% compared to the previous year, primarily due to the absence of two large, non-recurring orders that had boosted the previous year’s results, alongside a slight decrease in market demand. The division also reported an operating loss and a decrease in gross profit and margin. Overall, the company posted a consolidated net loss of $2.6 million, highlighting challenges in maintaining its market position amid fluctuating demand.
More about IBC Advanced Alloys
IBC Advanced Alloys Corp. operates in the advanced materials industry, focusing on the production and distribution of copper alloys. The company is engaged in continuing operations through its Copper Alloys division, while its Engineered Materials division has ceased operations.
YTD Price Performance: 2.41%
Average Trading Volume: 38,342
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$9.64M
See more data about IB stock on TipRanks’ Stock Analysis page.