Montfort Capital’s Soaring Revenue Meets Net Loss

TIMIA Capital (TSE:MONT) has released an update.

Montfort Capital Corp. reported a significant increase in 2023 annual revenue with a record total of $51.5 million, up 64.4%, but faced a net loss of $12.5 million, compared to a net gain in the previous year. The net loss was attributed to accounting changes, impairment losses, and increased expenses. Despite these challenges, the company’s fourth-quarter revenue declined by 12.4%, indicating a need to focus on improving profitability moving forward.

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