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Global Invacom Group Ltd - Singapore-based satellite communications equipment and electronics provider - Says revenue in the six months ended June 30 was $31.3 million, down from $37.4 million year-on-year. Net loss narrows to $2.1 million, from $3.3 million the year prior. Expects gross profit to be $8.3 million, up from $7.4 million year-on-year. The company says it plans to announce its full first half results by August 14. ‘Supply chain disruption continues in challenging market conditions; however the implementation of efficiencies at the group’s US manufacturing facilities, combined with actions from the ongoing strategic review, have contributed to improved profit margins and reduced losses,’ says Global Invacom. Current stock price: $0.035 12-month change: down 50% Copyright 2023 Alliance News Ltd. All Rights Reserved
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