Millennium Group Reports H1 Financial Dip

Millennium Group International Holdings Limited (MGIH) has released an update.

Millennium Group International Holdings Limited reported a decline in revenues by 9.6% to $23.8 million and a net loss of $0.9 million for the first half of Fiscal Year 2023, compared to a net income of $1.0 million in the previous year. Despite reduced costs of revenue and a slight increase in gross profit margin, the company faced challenges due to Sino-US trade tensions, the pandemic, and increased shipping costs. The company is actively taking measures to enhance efficiency and diversify its customer base in response to market uncertainties.

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