Reko International (TSE:REKO) has released an update.
Reko International Group Inc. has reported a modest increase in consolidated sales for the second quarter of fiscal 2024, up 2.4% to $11.95M compared to the previous year, with a net income of $102K. Despite this growth, the company faced a decline in gross profit due to cost overruns and pricing pressures, alongside challenges in labour costs from skilled labour shortages. The firm’s balance sheet remains strong, with a notable $3.4M improvement in working capital over the prior year.
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