Xamble Groups Strong Q1 CY2024 Performance and Strategic Appointments

Xamble Group Limited (ASX: XGL) reported a robust first quarter in 2024, with a 17% increase in revenue to AU$2.77 million. The growth was notably strong in the SME sector, where revenue surged by 235% to AU$0.20 million, and the enterprise segment also grew by 32% to AU$1.63 million. The company maintained profitability with a net gain of AU$0.17 million, despite ongoing investments in technology totaling AU$0.15 million.

Xamble also managed to reduce its corporate costs by 4%. Key strategic moves included the appointments of a new Chief Growth Officer and Chief Product Officer, set to join in May 2024. These developments position Xamble favorably to expand its influence in the rapidly growing South-East Asian market, supported by a healthy cash balance of AU$2.83 million and a debt-free balance sheet.

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