Forafric Global plc Reports 9.2% Decline in Sales, Swings to Operating Loss for 2024
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Forafric Global plc reported a 9.2% decline in net sales for the fiscal year ending December 31, 2024, totaling $274.2 million, down from $302.0 million the previous year. The decrease was attributed to reduced crushed volume in soft wheat and durum in Morocco. The cost of sales also fell to $246.9 million, resulting in a gross profit of $27.3 million, a 4.2% decrease from 2023. These results reflect the company's performance and strategic operations over the past year.
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