Melcor Developments Reports Robust Q1 Growth

Melcor Developments OTC (TSE:MRD) has released an update.

Melcor Developments Ltd. has reported a strong first quarter in 2024 with revenues soaring to $49.75 million, a 38% increase from the previous year, and net income skyrocketing by 494% to $12.79 million. The company’s Land division was a key driver of this growth, with a 156% rise in revenue due to higher land sales. Additionally, Melcor declared a quarterly dividend of $0.11 per share, signifying confidence in their financial performance.

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