Vmoto Limited (AU:VMT) has released an update.
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Vmoto Limited has reported a significant sales downturn in the first quarter of 2024, with unit sales dropping by over 50% compared to the previous two years, amidst tough global economic conditions, particularly in Europe and China. The company also projects a net loss after tax of between A$3.3 million and A$3.6 million for the full year. Despite these challenges, Vmoto is investing in brand consolidation and market expansion, including the acquisition of Vmoto Soco Italy and launching a new unified website.
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