SMI Vantage Limited (SG:Y45) has released an update.
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SMI Vantage Limited reports a significant financial recovery with a 44% revenue increase in FY2024, driven by a 34% growth in travel retail sales and a doubling of F&B operations revenue. Despite challenges, including a temporary pause in digital mining operations due to Bitcoin’s value drop, the company resumed and expanded these operations with new installations in East Malaysia. The company also managed higher selling and distribution costs, increased administrative expenses due to new acquisitions and ventures, and a rise in finance costs due to additional shareholder loans.
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