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An announcement from Vmoto Limited ( (AU:VMT) ) is now available.
Vmoto Limited has addressed an ASX inquiry regarding the sale of slow-moving and obsolete inventories in Italy. The company initially expected to impair these stocks but later signed an agreement in October 2024 to sell 544 units, reducing the likelihood of impairment. However, due to delayed pickups by the customer, the financial impact was uncertain until February 2025. The situation was resolved when the customer began collecting the units, allowing Vmoto to conclude that no impairment was necessary, subsequently improving the company’s financial outlook.
More about Vmoto Limited
Vmoto Limited operates in the electric vehicle industry, focusing on the production and distribution of electric scooters and motorcycles. The company targets both the consumer and commercial markets, aiming to provide sustainable and efficient transportation solutions.
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €25.13M
For an in-depth examination of VMT stock, go to TipRanks’ Stock Analysis page.