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Aferian plc Announces Tough Year-End Results
Company Announcements

Aferian plc Announces Tough Year-End Results

Aferian plc (GB:AFRN) has released an update.

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Aferian plc reported a significant drop in total revenue from $91.1 million to $47.8 million for the fiscal year ended November 2023, primarily due to a 68% decrease in device sales, although software and services revenue increased by 10%. The company faced a statutory operating loss of $63.8 million, which included a substantial non-cash impairment charge, and announced no dividend for the year, reflecting a challenging macroeconomic and competitive landscape. Despite these setbacks, the company has taken steps to reduce costs, extend loan facilities, and refocus on profitability and cash generation.

For further insights into GB:AFRN stock, check out TipRanks’ Stock Analysis page.

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