AF Global Reports Mixed Financial Results for First Half of 2024
Revenue Up, Profitability Declines
WEB AF Global, a leading provider of technology solutions, has released its financial results for the first half of 2024. The company reported a 12% increase in revenue to S160 million, compared to S143 million in the first half of 2023. However, profitability declined significantly, with a loss per share of S0002, versus a profit per share of S0001 in the same period last year.
S260 Million Loss in Second Quarter
Challenges in Key Markets
The decline in profitability was primarily driven by a weak second quarter, in which AF Global reported a loss of S260 million, significantly down from a profit of S9480k in the previous year's second quarter. This was attributed to challenges in key markets and ongoing supply chain disruptions.
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