VIP Gloves Ltd. (AU:VIP) has released an update.
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VIP Gloves Limited reports a significant downturn in revenue for the fiscal year ended June 30, 2023, with an 83.6% decrease to $1,743,030, due to halting glove manufacturing operations amidst a challenging business environment. The loss after tax has increased by 75.1% to $12,916,648, despite the company’s asset disposal and tax refund efforts improving cash flow. No dividends were paid, and the company’s net tangible assets per security drastically dropped from 1.67 cents to 0.04 cents.
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