WANG & LEE GROUP, Inc. Reports Revenue Growth and Reduced Net Loss in 2024 Interim Financials

Wang & Lee Group, Inc. ( (WLGS) ) has shared an update.

WANG & LEE GROUP, Inc. announced their unaudited interim financial results for the first half of 2024, highlighting a revenue increase to $1.89 million, up by 31.25% from the same period in 2023. Despite the revenue growth, the company experienced a gross loss of $0.05 million due to increased costs of revenues, but managed to reduce its net loss to $0.72 million from $1.62 million in the previous year, partially due to a significant decrease in general and administrative expenses.

More about Wang & Lee Group, Inc.

WANG & LEE GROUP, Inc. is a British Virgin Islands holding company with operations conducted by its subsidiaries in Hong Kong. The group acts as a construction prime and subcontractor focusing on the installation of Electrical & Mechanical Systems, including low voltage electrical systems, mechanical ventilation and air-conditioning systems, fire service systems, and water supply and sewage disposal system installation for both public and private sectors.

YTD Price Performance: 160.14%

Average Trading Volume: 175,305

Technical Sentiment Consensus Rating: Sell

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