Summary by Moomoo AI
Ico Industries Limited (“Ico Industries”) announced audited consolidated results for the year ended December 31, 2023, which recorded a record free cash flow of US$13 billion, outpacing the market in terms of sales growth and profit generation. SALES AT THE FLAGSHIP MILWAUKEE BUSINESS INCREASED 10.7% AND GROSS PROFIT GREW FOR THE 15TH CONSECUTIVE YEAR TO 39.5%, AND INVENTORIES DECREASED BY $9.87 MILLION FROM LAST YEAR. Revenue rose 3.6 percent year-on-year to $137 billion, while the company's shareholders' profit fell 9.4 percent year-on-year to $9.76 billion. Basic earnings per share were 53.36 cents, increasing free cash flow to $1,281 million. Global business growth was recorded in all regions, with North America growing by 2.9%, Europe by 7.3% and other regions by 7.6%. The Company's Board of Directors proposes a final dividend of HK$98.00 cents per share for a total of approximately US$2.31 million. The I&T industry has strong business performance globally and is confident about the outlook for 2024.