Alexium International Group Limited (AU:AJX) has released an update.
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Alexium International Group Limited concluded FY24 with a stronger financial standing, having recapitalized its balance sheet and raised $3 million through capital initiatives. Despite an 18.3% decrease in revenue due to weak US retail impacting bedding market sales, the company has improved its cash position and reduced its net loss compared to the previous year. Looking ahead, Alexium anticipates growth in FY25, leveraging its strategic plans that include market diversification and technological advancements in flame retardancy and thermal management.
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