RA International Group Plc (GB:RAI) has released an update.
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RA International Group Plc, a remote site services provider, has reported a significant financial turnaround for the year ended December 31, 2023. The company transitioned from a 2022 EBITDA loss of USD 4.1 million to a 2023 EBITDA profit of USD 6.3 million and a modest profit before tax of USD 0.2 million. Contributing factors include a gross profit margin increase to 14.5% and successful asset sales and refinancing activities, which improved cash and liquidity positions, turning a previous net debt into a net cash situation. The company also highlights a strong sales pipeline and ongoing large bids with UN organizations, indicating potential further order book growth.
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