Nature Wood Group Limited Sponsored ADR (NWGL) has released an update.
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Nature Wood Group Limited reported a 24% decline in revenue for the first half of 2024, attributed to global economic challenges and downturns in key markets like China. However, the company reduced its losses significantly compared to the previous year by implementing cost optimization strategies and exploring new revenue streams, such as carbon credits and decorative plywood. Despite the challenging market conditions, Nature Wood’s gross profit margin improved due to effective cost control measures.
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