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Century Announces Filing of Third Quarter Financial Results and Management Discussion and Analysis for Nine Months Ended December 31, 2024
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About this update from Century Global Commodities Corporation
[{"type":"text","content":"Century Announces Filing of Third Quarter Financial Results and Management Discussion and Analysis for Nine Months Ended December 31, 2024\n\n\n\n\n THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN\n \n\n THE UNITED STATES OR TO U.S. NEWS AGENCIES\n \n\n\n HONG KONG, Feb. 13, 2025 (GLOBE NEWSWIRE) --\n \n Century Global Commodities Corporation\n \n (“\n \n Century\n \n ” or the\n \n “Company\n \n ”) (TSX: CNT) is pleased to announce that it has filed its condensed consolidated interim financial statements for the third fiscal quarter ended December 31, 2024 and the related management discussion and analysis (“MD&A”). Copies of these documents are available under Century’s SEDAR+ profile at\n \n http://www.sedarplus.ca\n \n and will also be posted on Century’s website at\n \n www.centuryglobal.ca\n \n .\n \n\n Highlights of operating results:\n \n\n For the nine months ending December 31, 2024, the Company:\n \n\n\n Closed a total of A$500,000 private placement financing, by its subsidiary Joyce Direct Iron Inc. (“JDI”), at an A$25 million valuation to prepare for a spinout.\n \n\n Achieved nine months’ record sales of $10.16 million. Century Food generated gross segmental profit of $2.50 million and net segmental profit of $472,377.\n \n\n\n For the quarter ending December 31, 2024, the Company:\n \n\n\n Delivered an operating after tax profit of $163,132, made possible by a strong gross profit contribution by Century Food, currently the sole revenue-generating operation of the Company, of $964,905. This is the first operating profit quarter for the Company, as a resource exploration and development company, and also a record gross profit since inception.\n \n\n\n\n As of December 31, 2024, the Company had net working capital\n \n *\n \n of $6.3 million, consisting of unrestricted free cash, bank deposits and marketable securities totaling $4.3 million, together with accounts receivables, inventories and other current assets of $5.3 million, less accounts payable and other current liabilities of $3.3 million.\n \n\n ______________________\n \n * This is a non-IFRS financial measure. Refer to the Company’s MD&A for more information.\n \n\n\n ABOUT CENTURY\n \n\n\n Century Global Commodities Corporation (TSX:CNT) is primarily a resource ex...