The board of Rex International Holding has announced that it expects to report a net loss for the FY2023 ended Dec 31, 2023, based on a preliminary review of its unaudited consolidated financial results.
In a profit guidance filing on Feb 13, the company says the losses are mainly due to non-cash items related to the impairment of goodwill, oil and gas properties, as well as the exploration and evaluation of assets.
The company is still in the process of finalising the impairment assessment over its oil and gas properties and its results for FY2023.
Rex International expects to release its unaudited consolidated financial results for FY2023 on or before Feb 29.
Shares in Rex International closed 0.7 cents higher or 5.11% up at 14.4 cents on Feb 13.
