iFabric Corp. (TSE:IFA) has released an update.
iFabric Corp reported a strong start to fiscal 2024 with a 2% increase in Q1 revenue and a 30% jump in adjusted EBITDA, driven by new customers and solid margins in its Intelligent Fabrics Division. Despite a slight decrease in Intimate Apparel Division sales in Canada, the company achieved an 11% rise in gross profit and an overall net earnings increase to $550,596. This financial growth contributes to a robust working capital and an unutilized bank operating line, positioning iFabric for potential future expansion.
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