Argo Group Limited (GB:ARGO) has released an update.
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Argo Group Limited reported an increase in 2023 revenues to US$3.1 million, up from US$2.5 million in 2022, alongside a decrease in operating loss from US$2.3 million to US$1.4 million. However, due to a full provision for a loan to finance a Ukrainian shopping mall amidst the ongoing war, the company experienced a significant loss before tax of US$14.4 million. Despite a challenging year, the Argo Fund saw a 7.8% rise, and the company is optimistic for 2024 as it pursues growth in assets and profitability.
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