JBDI Holdings Limited reported financial results for the fiscal year ended May 31, 2024. Revenue decreased 15.5% year-over-year to $9.4 million, compared to $11.1 million in FY2023. The company recorded a net loss of $977,000, versus a net income of $806,000 in the prior year.Gross profit declined to $6.4 million from $7.6 million, while operating expenses increased to $7.6 million from $6.7 million. The higher expenses were primarily due to a $716,000 impairment charge on property and equipment. Cash and cash equivalents stood at $190,000 as of May 31, 2024, down from $457,000 a year earlier.CEO Lim Chwee Poh commented: 'While FY2024 presented challenges, we remain focused on our core business of reconditioning and recycling containers. We are implementing cost control measures and exploring new growth opportunities to improve our financial performance going forward.' The company did not provide specific guidance for the upcoming fiscal year.

JBDI Holdings Limited reported financial results for the fiscal year ended May 31, 2024. Revenue decreased 15.5% year-over-year to $9.4 million, compared to $11.1 million in FY2023. The company recorded a net loss of $977,000, versus a net income of $806,000 in the prior year.Gross profit declined to $6.4 million from $7.6 million, while operating expenses increased to $7.6 million from $6.7 million. The higher expenses were primarily due to a $716,000 impairment charge on property and equipment. Cash and cash equivalents stood at $190,000 as of May 31, 2024, down from $457,000 a year earlier.CEO Lim Chwee Poh commented: 'While FY2024 presented challenges, we remain focused on our core business of reconditioning and recycling containers. We are implementing cost control measures and exploring new growth opportunities to improve our financial performance going forward.' The company did not provide specific guidance for the upcoming fiscal year.