Organto Foods (TSE:OGO) has released an update.
Organto Foods Inc. has announced its fiscal 2023 financial results, reporting a significant 25% increase in sales and nearly doubling its gross profit from the previous year. Despite these gains, the company fell short of profitability targets and initiated a major restructuring to streamline operations, reduce costs, and pave the way for future profitability. This restructuring includes a refocused product portfolio, marketing strategies, and the sale of three subsidiaries, along with a debt restructuring plan in progress.
For further insights into TSE:OGO stock, check out TipRanks’ Stock Analysis page.
