Mighty Craft Limited (AU:MCL) has released an update.
Mighty Craft Limited reported a decrease in Q3 FY24 revenue and cash receipts by 22% from the previous year, alongside a net operating cash outflow of $2.4 million. The company is actively deleveraging, having repaid $2.3 million of senior debt and is in the process of divesting assets, such as 78 Degrees and Mismatch for $7.2 million. Additionally, there is a strategic shift towards a potential merger with Better Beer, with discussions underway but with no certainty of a transaction as yet.
For further insights into AU:MCL stock, check out TipRanks’ Stock Analysis page.
