GLE - GLG Corp

[Faramir]

GLG Corp Limited is a global textile that produces and supplies casual lifestyle knitwear apparel to the US retail market.

The company's main operating businesses are apparel supply chain services, fabric and apparel manufacturing services, and corporate services:

• Apparel Supply Chain Services - Provide services such as product design & styling, material sourcing, warehousing, logistics & customs clearance, and technical support.
• Fabric & Apparel Manufacturing Services - Provide services such as printing, embroidery and production planning & control.
• Corporate Services - Provide services such as business development, finance, sales, marketing, human resources & administration, and merchandising.

(sorry, the above is a copy and paste from ibisworld.com)

Home - Ghim Li Global Pte Ltd

AT A GLANCE ABOUT GLG CORP LTD CORPORATE INFORMATION STOCK QUOTES $0.205 0.000 (0.000%) Last updated August 16, 2024 1:00 pm ASX data delayed by 20 mins.Currency in AUD VIEW & DOWNLOAD ANNUAL REPORTS VIEW ALL News From threads to triumphs: How Felicia Gan is weaving change in the global garment...

www.ghimli.com

I can’t put anymore useful info in this post.

 

[Faramir]

Yesterday’s Appendix 4D report

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02346946-2A1283436?access_token=83ff96335c2d45a094df02a206a39ff4

Wow, I picked a company that makes a profit.

Revenue from Ordinary Activities - up 32%
Profit/(Loss) after Tax from Ordinary Activities - up 251%
Net Profit/(Loss) after Tax Attributable to Members - up 251%

Cash Flow
Overall, the net cash flow generated from operating activities in 1HFY2021 was US$25.3m, this was mainly due to higher revenue and prompt settlement from customers.

Half yearly report:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02346956-2A1283438?access_token=83ff96335c2d45a094df02a206a39ff4

Borrowings US$43.57 million
That’s a bit too high compared to its equity of US$54.93 million

 

[Faramir]

What an illiquid stock!

I may as well pick this for March 2021 Tipping Comp. I guess it won’t move. Therefore, I won’t get tagged.

 

[Knobby22]

My pick for April.
April's fool share, you never know.

 

[Dona Ferentes]

My pick for April.
April's fool share, you never know.

 Gloriously Low Expectations there, knobby

Based on the preliminary assessment by management of the Group’s unaudited accounts indicates a net loss between US$1.6m to US$1.9m after tax for 1HFY2024. The net loss is mainly attributable to the decrease in sales caused by the high inventory levels of the Company’s customers who were affected by unforeseen logistics delays, reduced margins due to high interest rates, price competition and write-off of stock and consumables assets. These factors* have collectively led to exerted pressure on the profit margin for 1HFY2024..

*bad luck, just bad luck

About GLG Corp Ltd
GLG Corp. Ltd is a global textile and apparel supply chain manager of casual lifestyle knitwear apparel, to major U.S. and European retailers. We supply approximately 56 million garments a year through our global marketing and manufacturing network. We offer a total solutiopackage with an integrated one-stop service approach, from in-house product design and development, commercialization of orders, material management, production planning and control, to comprehensive post-manufacturing logistics solutions.

 

[divs4ever]

PROFIT GUIDANCE ON THE UNAUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDED 2024

The Board of Directors (the “Board”) of GLG Corp Ltd (the “Company”), together with its subsidiaries, (the “Group”) wishes to issue a profit guidance on its full year results ended 30 June 2024 (“FY2024”) further to the Company’s previous market guidance provided in February 2024 in its Appendix 4D.

Based on the preliminary assessment by management of the Group’s unaudited accounts indicates a net loss between US$2.8m to US$3.2m after tax for FY2024.
The net loss is mainly attributable to the decrease in sales caused by the high inventory levels of the Company’s customers who were affected by unforeseen logistics delays, reduced margins due to high interest rates, price competition and write-off of stock and consumables assets.
These factors have collectively led to exerted pressure on the profit margin for FY2024.

The Group is scheduled to release its full year FY2024 results around 28th August 2024.

ENDS

This announcement was authorised for release by the Board of Directors of GLG Corp Ltd.

i do not hold this share