Magontec Limited Faces Half-Year Financial Decline

Magontec Limited (AU:MGL) has released an update.

Magontec Limited reports a significant downturn in its half-year financials for 2024, with revenue down by 31.6% and losses amounting to $5,250,000 when compared to the previous year. Additionally, the company has decided not to distribute interim dividends, a change from the previous half-year’s 0.6¢ per share. Net tangible assets per share also decreased from 68 cents to 60 cents, reflecting the company’s reduced asset value over the period.

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