Nature Wood Group Limited, a manufacturer specializing in lumber and wood products, has disclosed its unaudited financial results for the first half of 2024. The company's financial performance has been challenging, with revenue declining 54% year-over-year to $25.46 million and an EBITDA of -$5.62 million in the last twelve months. The announcement was made today, in compliance with SEC regulations for foreign private issuers.
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The Macau-based company, listed under the SEC file number 001-41796, submitted the report in accordance with the Securities Exchange Act of 1934. The document, identified as Exhibit 99.1, presents the financial performance of the company for the period ending today.
While the detailed financial figures were not provided in the summary of the press release, the announcement indicates a continued operation within the lumber and wood products sector. The company's stock has faced significant challenges, declining 85.31% over the past year, with current trading at $1.41. Nature Wood Group operates under the SIC code 2400, which pertains to the manufacturing of lumber and wood products, excluding furniture.
InvestingPro analysis reveals concerning metrics, including a high debt-to-equity ratio of 1.71 and a weak gross profit margin of 9.37%. The 6-K form, which is a requirement for foreign companies listed on U.S. exchanges, does not always provide comprehensive data but rather updates on significant changes or financial results.
The filing did not mention any significant changes in the company's operations, nor did it include forward-looking statements regarding Nature Wood Group's future performance. As a standard protocol, the company files annual reports under Form 20-F, which provides a more detailed account of its financial and operational status.
This report is based on a press release statement and is intended to offer a brief overview of Nature Wood Group's financial results as per the latest SEC filing.
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