Credit Intelligence Ltd (AU:CI1) has released an update.
Credit Intelligence Ltd has issued a profit warning, revealing a significant increase in losses to approximately A$11.8m for the eleven months leading up to May 2024, a stark rise from the A$1.5m loss in the previous corresponding period. The increased loss is attributed mainly to an impairment loss of around A$9.4m on goodwill from acquisitions, as well as poor performance in the Singapore and Hong Kong business segments. The final results for FY24 are expected to be published in August 2024, and the current figures are preliminary and unaudited.
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