Nature Wood Group Limited Announces Preliminary Full Year 2023 Financial Results
Nature Wood Group Limited (NWGL)
Company Research
Source: PR Newswire
MACAU, Feb. 14, 2024 /PRNewswire/ -- Nature Wood Group Limited (NASDAQ: NWGL), a global leader in vertically-integrated forestry and FSC business operations, today revealed its preliminary financial results for the full year ended December 31, 2023.2023 Financial Overview:Nature Wood experienced a challenging year in 2023, with total sales reaching $25.4 million, a decrease from $55.3 million in 2022. The year concluded with the Company anticipating a loss of $5.2 million, in contrast to the income of $5.2 million reported in the prior year. These outcomes were significantly influenced by the ongoing global economic downturn and geopolitical tensions, including the prolonged impact of the Russian-Ukrainian war, which continued to affect the construction and home renovation sectors adversely.Performance Insights:The decline in revenue and the shift to a loss position reflect persistent global challenges. Despite these hurdles, Nature Wood has implemented aggressive cost-cutting measure
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NWGL
Sec Filings
- 4/25/24 - Form 20-F
- 4/25/24 - Form 6-K
- 3/4/24 - Form 6-K
- NWGL's page on the SEC website