Matrix Composites Reports Strong FY24 Growth and Outlook

Matrix Composites & Engineering Ltd (AU:MCE) has released an update.

Matrix Composites & Engineering Ltd reported a robust 80% increase in revenue to $85 million for FY24, driven largely by its subsea work in the oil and gas sector. The company achieved a net profit after tax of $3.6 million and entered FY25 with a strong cash position, setting the stage for continued growth. With new board members and a strategic focus on diversified revenue streams, Matrix is poised for another successful year ahead.

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