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VIP Gloves Ltd. ( (AU:VIP) ) has issued an update.
VIP Gloves Ltd. reported a significant reduction in losses for the year ending June 2024, with a loss of $2,659,830 compared to $13,449,239 the previous year. The improvement was attributed to increased revenues from trading activities and the absence of a major impairment expense. Despite the ongoing suspension of its manufacturing facility, the company has managed to sustain its operations through trading, supported by financial backing from significant shareholders.
More about VIP Gloves Ltd.
VIP Gloves Ltd. operates in the glove manufacturing industry, primarily focusing on trading and reselling a wide range of glove products. The company’s manufacturing operations have been temporarily suspended, and it is maintaining its business by focusing on these trading activities.
YTD Price Performance: 0.0%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$2.36M
See more insights into VIP stock on TipRanks’ Stock Analysis page.
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