Novatti Group Ltd. (AU:NOV) has released an update.
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Novatti Group Limited has reported a 13% increase in quarterly revenue to $12.9 million and an 11% reduction in expenses for Q1 FY25, as part of its ongoing turnaround strategy. The company is focusing on enhancing efficiencies and simplifying its operations by exiting non-core businesses and investing in new technologies, all aimed at achieving positive operating cash flow by 2025. Notably, Novatti has also sold its stake in the International Bank of Australia for $2.87 million, further streamlining its business.
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