YY Group Holding Limited Announces Unaudited First Half 2024 Financial Results

YY Group Holding Limited Announces Unaudited First Half 2024 Financial Results

Benzinga
September 10, 2024

SINGAPORE, Sept. 10, 2024 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ:YYGH) ("YY Group", "YYGH", or the "Company"), a data and technology-driven provider of staffing solutions for the hotel and hospitality industry as well as commercial cleaning and janitorial services, today announced its financial and operating results for the six months ended June 30, 2024, along with recent business developments.

"We are thrilled with the strong growth and operational achievements in the first half of 2024," said Fu Xiaowei, CEO of YY Group Holding Limited. "Our successful IPO and the expansion into Australia and Vietnam underscore our commitment to broadening our international footprint. We look forward to delivering sustained value to our shareholders as we continue to grow."

Financial Highlights for the First Half of 2024

Total Revenues: Increased by 41.0% to $19,259,492 for the six months ended June 30, 2024, compared to $13,659,047 during the same period in 2023.

Gross Profit: Increased by 32.8% to $2,377,674, up from $1,790,734 for the six months ended June 30, 2023.

YY App Metrics: Downloads and active users grew by 33.8% and 43.2%, respectively, with total downloads reaching 464,595 and active users reaching 152,650 as of June 30, 2024.

User Engagement: The number of daily, weekly, and monthly active users rose significantly by 177.2%, 158.5%, and 158.5%, respectively, with daily active users reaching 4,316, weekly active users reaching 9,271, and monthly active users reaching 25,066.

YY Group's impressive financial performance reflects its sustained growth across its platform and the success of its global expansion efforts.

Business Developments

Completion of Initial Public Offering (IPO)On April 22, 2024, YY Group Holding Limited ("the Company") completed its initial public offering by issuing 1,125,000 Class A Ordinary Shares at a public offering price of $4.00 per share, for aggregate gross ...

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