Close the Loop Ltd. ( (AU:CLG) ) just unveiled an update.
Close the Loop Ltd. reported a 3.8% increase in revenues to $99,187,000 for the half-year ending December 31, 2024, but faced a significant net loss of $765,000, marking a 115.5% decline from the previous period. The loss was largely attributed to the amortization of intangible assets amounting to $6,283,000, related to customer relationships, brand names, and internally generated software following business combinations. Without this amortization, the company would have recorded a substantial profit of $5,518,000. Despite the financial setback, the company did not declare any dividends and maintained its focus on sustainable growth through strategic resource management.
More about Close the Loop Ltd.
Close the Loop Ltd. operates in the recycling and resource recovery industry, focusing on providing sustainable solutions for the management of waste, particularly in the form of recycling consumables and electronics. The company aims to deliver environmentally responsible services to a global market, emphasizing innovation in waste management practices.
YTD Price Performance: -52.08%
Average Trading Volume: 975,678
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$61.16M
For detailed information about CLG stock, go to TipRanks’ Stock Analysis page.