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Metal & Mining Stocks
Vertex Resource Group (TSX: VTX) Achieves Increased Profit Margin in FY24 Amid Declining Revenue
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Highlights
Vertex Resource Group Ltd. (TSX:VTX) has announced its financial and operational results for the fourth quarter and full year ending December 31, 2024. The company completed the quarter in line with expectations, with revenues slightly down from the previous year, primarily due to the completion of major pipeline projects, including the TMX pipeline, which had a heavy reliance on subcontractors. Despite the revenue decline, Vertex successfully maintained its profit margins by scaling to meet customer demands without compromising on efficiency.
For the three months ending December 31, 2024, Vertex reported gross revenues of CAD 52.9 million, down from CAD 65.1 million in Q4 2023. However, the company's profit margin improved by 5.7% during the same period, reflecting its operational effectiveness. The company also generated CAD 12.1 million in free cash flow for the quarter, a significant increase compared to the CAD 4.0 million reported in Q4 2023.
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