Xref Ltd (AU:XF1) has released an update.
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Xref Limited reported a decrease in annual revenues and a substantial net loss, signifying a challenging financial year, with revenues falling 3% and losses increasing by 69%. Despite tough market conditions, the company launched new platforms and underwent significant restructuring, including office consolidation and workforce reduction. Moving forward, Xref plans to enhance its Enterprise Platform and focus on cash management, eyeing recovery and growth in the upcoming fiscal year.
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