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SouthGobi Resources Books Narrower Attributable Loss in Q2
SouthGobi Resources: Q2 Earnings Snapshot
SouthGobi Reports Increased Exports Despite Price Drop
During the second quarter, SouthGobi (01878.HK) had a net profit of 15 million USD from its operations.
On August 14, Glonhui announced that Southgobi (01878.HK) had revenue of $92.8 million in the second quarter of 2024, compared with $83.2 million in the second quarter of 2023. The company recorded an operating profit of $15 million in the second quarter of 2024, while it suffered an operating loss of $40.5 million in the second quarter of 2023. The main reason for the loss to profit performance is due to the Mongolian Taxation Bureau collecting additional taxes and fines of $75 million in the second quarter of 2023. In the second quarter of 2024, the company recorded sales of 1.2 million tons, compared with the second quarter of 2023.
SOUTHGOBI: SOUTHGOBI ANNOUNCES UNAUDITED SECOND QUARTER 2024 FINANCIAL AND OPERATING RESULTS
SouthGobi Resources Expects to Turn to Profit in H1, Shares Down 14%
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