Soco Corporation Ltd (AU:SOC) has released an update.
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SOCO Corporation Ltd reported a revenue increase of 11.7% for the fiscal year ending June 30, 2024, reaching $20,559,570, despite a net loss after tax of $486,170, a downturn from the previous year’s profit. The loss was attributed to government project delays and reduced client spending, but the company has since adjusted, returning to profitability in Q4 with an Operating EBITDA of $778,359 for the quarter. SOCO remains optimistic with a strong cash balance and investments in sales and marketing to diversify its client base, coupled with the confirmation of Sebastian Rizzo as the permanent CEO.
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