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.