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Close the Loop Ltd (ASX:CLG)

ALERT: Price-sensitive ASX Announcement for CLG
Current share price for CLG : $0.041 0.003 (7.89%)+
Announcement
Release
24 Aug 2026 10:02AM
Price at Release
$0.038
Full Release
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Summary
Close the Loop Ltd's Full Year Statutory Accounts for FY26 report a financial recovery with a net profit and increased revenue from continuing operations. The company underwent significant restructuring, including the sale of non-core businesses, impacting its financial performance. EBITDA saw a substantial increase, and the company's focus on expansion in various regions indicated efforts to strengthen its market position. Close the Loop is also pursuing refinancing options for its debt facilities.
Key Points
  • Close the Loop Ltd experienced a significant financial turnaround in FY26, reporting a profit of $31,000 compared to a loss of $10,841,000 in the previous year.
  • The company's total revenue for continuing operations increased to $125.6 million, driven by strong performance in the packaging division.
  • Close the Loop underwent a business reorganization, which included the sale of several non-core businesses.
  • There was a substantial impact on the FY26 financial performance due to restructuring costs and asset write-offs related to discontinued operations.
  • The company's EBITDA from continuing operations rose by 57% to $12.43 million.
  • Close the Loop's resource recovery division faced challenges, contributing to the overall financial performance.
  • The company has been focusing on expanding its operations in North America, Asia, and Africa.
  • Close the Loop is engaged in ongoing discussions to refinance its debt facilities, aiming for future interest rate savings.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.