RLF AgTech Ltd (AU:RLF) has released an update.
RLF AgTech Ltd forecasts a significant drop in FY24 revenue to approximately $9M from the previously guided $15M-$16M, amid challenging market conditions and lower-than-expected sales, particularly in China and South-East Asia. The company is implementing management changes, cost-cutting initiatives, and reviewing its RLF Carbon strategy while preparing to launch a Share Purchase Plan to raise $1.1M. The integration of recent acquisition LiquaForce is in progress, aiming to introduce RLF products to Queensland in the next fiscal year.
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