Afarak Group Plc (GB:AFRK) has released an update.
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Afarak Group SE reports a 25.1% decline in revenue to EUR 71.4 million in the first half of 2024, while EBITDA fell to EUR 4.2 million from EUR 15.1 million in the same period last year. The company has experienced a decrease in profit to EUR 0.5 million, amidst a challenging business environment. Despite these pressures, Afarak remains the sole Western producer of low carbon ferro-chrome, a key material for several industries, and expects improved cost structures and new revenue streams moving forward.
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