Yowie Group Ltd. (AU:YOW) has released an update.
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Yowie Group Ltd reported an 11% increase in annual revenue to $14.69 million, yet faces a significant net loss of $2.64 million, a 2,465% increase from the previous year. Contributing to the losses were poor Easter seasonal sales in Australia and operational challenges at the newly acquired Ernest Hillier facility. Despite these setbacks, the company has removed $2.5 million in annualized costs following a business review and is preparing for peak production in the upcoming holiday seasons.
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