Merchant House International Limited (AU:MHI) has released an update.
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Merchant House International Limited reported a busy quarter with a significant divestment of their 33.79% stake in Tianxing for A$8.3 million, the closure of Footwear Industries of Tennessee due to prolonged losses, and a notable 17% increase in shipments for their home textiles division, AMI. Despite challenges in the retail sector, AMI’s sales rose to US$1,237 thousand. The company ended the quarter with a cash balance of A$6,160 thousand, after incurring various operational expenditures.
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