Banle group announces 2023 full year results

Hong kong, april 18, 2024 (globe newswire) -- banle group (the “group” or “banle”) (nasdaq: banl), a reputable marine fuel logistic company in the asia pacific, today reported its audited financial results for the full year ended december 31, 2023 (“fy2023”). results compared with the full year ended december 31, 2022 (“fy2022”) are as follows:     for the year ended december 31,       2023     2022 change revenue us$ 435,897,718   us$ 462,906,257 -5.8 % cost of revenue us$ 428,686,593   us$ 453,781,238 -5.5 % gross profit us$ 7,211,125   us$ 9,125,019 -21.0 % total operating expenses us$ 5,549,298   us$ 4,364,676 +27.1 % income from operations us$ 1,661,827   us$ 4,760,343 -65.1 % total non-operating expenses, net us$ 230,572   us$ 260,875 -11.6 % income before income taxes us$ 1,431,255   us$ 4,499,468 -68.2 % provision for income taxes us$ 298,605   us$ 814,468 -63.3 % net income including noncontrolling interest us$ 1,132,650   us$ 3,685,000 -69.3 % basic and diluted earnings per ordinary share* us$ 0.045   us$ 0.171 -73.7 %                 * gives retroactive effect to reflect the reorganization in august 2022.
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