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Impact Development Group Inc ( (TSE:IMPT) ) has shared an announcement.
Impact Development Group Inc. reported a significant decrease in revenue for the year ended December 31, 2024, with a 36.15% drop compared to 2023, primarily due to fewer house sales. The company faced a net loss of $22.3 million, influenced by impairments related to land development and goodwill, and changes in Panama’s Solidarity Bonus Subsidy Program. Despite consistent operating expenses, the company experienced a decrease in interest expenses due to lower construction activity in 2024. The company’s total assets also decreased, largely due to a reduction in property inventories and land held for development.
More about Impact Development Group Inc
Impact Development Group Inc. is a leading Panamanian developer focused on providing affordable housing solutions.
YTD Price Performance: -53.33%
Average Trading Volume: 920
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$2.35M
For detailed information about IMPT stock, go to TipRanks’ Stock Analysis page.