Nature Wood Group Limited Sponsored ADR (NWGL) has released an update.
Nature Wood Group Limited reported a 24% decline in sales for the first half of 2024, attributed to global economic challenges and downturns in key markets such as China. However, the company has significantly reduced its losses compared to the previous year by implementing cost optimization strategies and exploring new revenue sources such as carbon credits and decorative plywood. Despite challenging market conditions, Nature Wood’s gross profit margin improved thanks to effective cost control measures.
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