Avarga Limited (SG:U09) has released an update.
Taiga Building Products Ltd. reported a decrease in net sales and earnings for the first quarter of 2024, with sales dropping by 4% to $393.6 million and net earnings falling to $12.8 million from last year’s $13.5 million. The decline was mainly attributed to lower volumes of commodity product sales, which also led to a reduced gross margin. Despite the downturn, the company maintained a solid EBITDA of $19.8 million, although it was down from the previous year’s $22.5 million.
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