Synertec Corporation Limited (AU:SOP) has released an update.
Synertec Corporation Limited reports a 26% increase in annual revenue to $19.7 million, with cash receipts from customers rising by 31%, despite a widened net loss after tax of 24%. The company highlights significant strides in its Engineering and Technology segments, including the successful rollout of their Powerhouse units and substantial revenue from long-term contracts. With an optimistic outlook, Synertec emphasizes its strong financial position, backed by a $15 million debt facility and a $21 million capital reserve, gearing up for future growth.
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