World Precision Machinery (SGX:B49) reported its first quarter 2024 financial results, showing a significant decline in revenue and net loss compared to the same period in 2023. Revenue for the quarter was CN¥185.2m, down 34% from CN¥279.5m in the first quarter of 2023. The company also reported a net loss of CN¥607.0k, a sharp decline from the CN¥11.6m profit in the same period last year. Earnings per share were reported at CN¥0.002, down from CN¥0.038 in the previous year.
Despite these financial challenges, World Precision Machinery shares have seen an impressive increase of 52% from a week ago. However, investors should be cautious about this growth, as there are warning signs that they should be aware of.
The trailing 12 months (TTM) period for World Precision Machinery shows that revenue has decreased by 36%, while net loss has increased by over six times compared to the same period last year. Despite this decline in financial performance, shares have been performing well in recent weeks, with an increase of over 50%.
It is important for investors to carefully consider this information when making investment decisions about World Precision Machinery stock. While historical data and analyst forecasts can provide useful insights into a company’s financial performance, it is important to also consider any recent company announcements or qualitative information that may impact future results. Simply Wall St does not hold any positions in the stocks mentioned in this article and does not offer financial advice to individual investors.
In summary, while World Precision Machinery has seen some positive growth recently, investors should exercise caution when investing due to warning signs and potential risks associated with their financial performance.
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