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- The Environmental Group (EGL) has frozen its shares pending an upcoming capital raise
- The company will remain in the halt until September 3 or when the announcement is made, whichever occurs first
- In its 2020 annual report, EGL reported a consolidated revenue of just under $37.5 million, an increase from the $33 million in 2019
- Additionally, it also reported a consolidated gross profit of almost $13 million, an increase of more than $2 million from the prior corresponding period
- However, EGL’s earnings before interest, taxes, depreciation and amortisation (EBITDA) was down 110.2 per cent to just over $128,000
- Shares in EGL last traded for 2.7 cents each on August 19
The Environmental Group (EGL) has frozen its shares pending an upcoming capital raise.
The company will remain in the halt until September 3 or when the announcement is made, whichever occurs first.
At this point, it is not known how much money the company wants to raise or what the funds will be used for.
In its 2020 annual report, EGL reported $37,425,748 in consolidated revenue, an increase from the $33,003,119 reported in 2019.
Additionally, it also reported a consolidated gross profit of $12,897,982, a more than $2 million increase from 2019’s total of $10,631,340.
However, EGL’s earnings before interest, taxes, depreciation and amortisation (EBITDA) was down 110.2 per cent to $128,116.
In terms of expenditure, EGL burnt through more than $1.5 million compared to just over $890,000 last financial year.
The majority of this went to employee expenses and professional fees.
Shares in EGL last traded for 2.7 cents each on August 19.
