Crown Cap (TSE:CRWN) has released an update.
Crown Capital Partners Inc. reported increased revenues in 2023 at $69.6 million, up from $44.8 million the previous year, driven by growth in distribution services and new property management and development income. Despite higher revenues, the company faced a net loss of $12.2 million, larger than the $7.5 million loss in 2022, with significant impairment charges and a deferred tax expense contributing to the losses. The distribution services segment experienced a substantial revenue increase, while the network services segment saw a slight decline, and the real estate and distributed power segments reported mixed results.
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