Buhler Industries Inc. (TSE:BUI) has released an update.
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Buhler Industries Inc. reports a slight decrease in annual revenue to $238.5 million, down from $239.9 million the previous year, but a notable swing to a net profit of $7.1 million from a loss of $1.0 million, largely due to gains from asset disposals and foreign exchange. The company anticipates increased sales for 2024, bolstered by resolving supply chain issues and strong demand for its agricultural machinery, with additional support from its new majority owner, Basak Tractor. Profitability and margins are expected to improve in 2024 through operating efficiencies and increased shipments.
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