IRC (HK:1029) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
IRC Limited reports a challenging first half of 2024 with a net loss of US$13.2 million, attributed to a decline in production and sales volumes due to ore quality and mining issues. Revenue fell to US$112.3 million, a significant drop from the previous year, with increased cash costs and high inflation impacting profitability. Despite these setbacks, the company remains focused on its new Sutara mining pit, which is expected to improve ore quality and extend mine life.
For further insights into HK:1029 stock, check out TipRanks’ Stock Analysis page.
