Solution Financial Inc. (TSE:SFI) has released an update.
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Solution Financial Inc. has reported a significant turnaround with a net income of $21,171 for Q1 2024, compared to a net loss last year, despite a slight revenue decline to $3.1 million and a 4.4% reduction in their leasing portfolio. The company is adapting to market changes with new auto and luxury corporate leasing programs, targeting a broader customer base affected by rising interest rates and stringent lending criteria. These initiatives are expected to drive growth and provide competitive leasing options in the Canadian auto market.
For further insights into TSE:SFI stock, check out TipRanks’ Stock Analysis page.