Givex Information Technology Group Limited (TSE:GIVX) has released an update.
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Givex Information Technology Group Limited has reported a significant financial upturn in the first quarter of 2024, with revenues increasing by 9% to $21 million and the company achieving a net profit of $500,000 for the first time since its public debut. Operational improvements, including the delisting of low-margin gift card resales and the migration of data centres, have contributed to a remarkable 3,361% EBITDA increase and an expected annual savings of over $350,000. The company’s focus on managing payroll costs effectively has been highlighted as a key factor in its improved profitability.
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