Chesswood Group Ltd. (TSE:CHW) has released an update.
Chesswood Group Limited reported a challenging fiscal year for 2023, with a notable decrease in total originations to $1.2 billion, a 31.4% drop due to stricter credit standards and higher loan pricing. Despite economic headwinds leading to a consolidated net loss of $32.8 million, the company generated $3.8 million in free cash flow and formed a significant joint venture with Wafra Inc. to enhance equipment lease and loan investments. Chesswood’s strategic review initiated by its board aims to maximize shareholder value, with RBC advising the process.
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