Oriental Rise Holdings Limited announced its full year 2024 financial results, revealing a substantial decline in key financial metrics. Total revenue for 2024 decreased to $15.01 million, a 38% reduction from $24.12 million reported in 2023.
The company's profitability also saw a significant downturn, with gross profit falling from $12.78 million in 2023 to $3.93 million in 2024. Net income experienced a considerable drop, decreasing from $11.50 million in 2023 to $2.09 million in 2024.
Earnings per share (EPS) for FY 2024 were US$0.17, a notable decrease from US$0.96 in FY 2023. Despite these declines, Oriental Rise maintained a strong liquidity position, reporting a cash and cash equivalents balance of $43.02 million and low total debt of $196,000 at the end of 2024.
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