OM Holdings Ltd. (AU:OMH) has released an update.
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OM Holdings Limited reported a 4% drop in revenue for the first half of 2024 compared to the previous year, citing lower ore trading volumes and reduced selling prices due to weaker demand from steel mills. Despite market challenges and a slight decrease in earnings per share, the company achieved a profit after tax of US$12.9 million and improved its cash flow from operations. OM Holdings remains focused on cost management and operational efficiencies to navigate through the uncertainties in the manganese and silicomanganese markets, while also strengthening its financial position by reducing total borrowings and increasing net asset backing.
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