• Revenue up 3.8% to $99.2 million
• Net loss of $0.8 million, impacted by $6.3 million in intangible asset amortization
• Underlying net profit of $5.5 million after adding back amortization

Close the Loop Ltd reported a 3.8% increase in revenue to $99.2 million for the half year ended 31 December 2024, but a net loss of $0.8 million due to $6.3 million in intangible asset amortization. The company's underlying net profit was $5.5 million after adding back the amortization. The decrease in financial results was due to a temporary unfavourable shift in business mix in the resource recovery division and a delay in the opening of the Mexicali facility, which the company is actively addressing. The company's recycling division increased processing volumes during the period, and the packaging businesses achieved 11% organic sales growth. The company has made significant investments in working capital, particularly in the IT asset disposition business, which are expected to be converted to cash in the coming months. Net debt increased by $8.4 million to $50.9 million, primarily due to the devaluation of the Australian dollar against the US dollar. The company has ceased discussions with Adamantem Capital regarding a potential acquisition and is continuing discussions with other potential acquisition targets.