11/28/2024
Rektron Group earns $13-million (U.S.) in fiscal 2024
2024-11-27 09:57 ET - News Release
Mr. Ricardo Phielix reports
REKTRON REPORTS GROSS PROFIT OF USD$30 MILLION FOR 2024, USD$2.5 BILLION REVENUE FOR FINANCIAL YEAR END JULY 31 2024
Rektron Group Inc. had revenue of $2.5-billion (U.S.) for the year ended July 31, 2024, or $3.20 (U.S.) per share, compared with revenue of $2-billion (U.S.) for the year ended July 31, 2023. For fiscal 2024, gross profit attributable to the company was $30-million (U.S.), or 38 U.S. cents per share.
Worldwide revenue increased 24 per cent to $2.5-billion (U.S.) for fiscal 2024. The company had a profit of $13-million (U.S.) for the fiscal year, or 17 U.S. cents per share.
"Amid significant market challenges this year, we pro-actively adjusted our business operations to better align with the current environment," said Ricardo Phielix, chief executive officer of the company. "Together with the improvements made over the past several years, these adjustments enable us to serve our customers more effectively and achieve strong results across the business cycle. As we navigate ongoing geopolitical headwinds across our markets, we remain committed to making meaningful investments in our future while deepening our relationships with customers. Our team of dedicated employees come to work each day with a singular focus: delivering commodities and reduce operating costs."
Copies of the financial statements of the company, together with the auditor's report thereon and the management's discussion and analysis, are available on SEDAR+.
About Rektron Group Inc.
The company is the holding and parent company of Rektron AQ Ltd., which is the holding and parent company of DL Hudson Ltd. DL Hudson is the trading arm of a group of companies, of which there are several subsidiaries that support the group's global commodity trading operations. The company is headquartered in Vancouver, B.C., while Rektron AQ is headquartered in London, United Kingdom. The company focuses on maintaining an experienced team of management and traders, extensive geographical and product diversification, trading and logistical expertise, and financial and risk management. The team at the group comprises energy and metals traders, City of London and Wall Street bankers. The trading expertise includes principal energy and metals products, particularly ferrous and non-ferrous metals, energy transition commodities (ETC), recycled metals, and crude and Euro VI-compliant refined oil products. The company transacts across all compliant markets following the international trade regulations and guidelines.
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