UCASU will report $2.3 million revenue surge while cutting cost by 55%
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"While part of the surge in revenue may be due to the change of overall market situation which is beyond the company's control, the
The company announced in July last year that it would focus on improving profitability, for which a major part is to cut expenses.
"Our operating expenses decreased significantly across the board (except for depreciation) for the first half of 2023, compared to the same period in 2022," confirms Armstrong.
"In particular, 1) management fees decreased by more than
Armstrong cautions that the above results may change in the audited report, but he believes that there is no reason for audited results to be substantially different.
Subject to auditing, the company is expected to report
UC Asset had reported profits in previous years, including the year of 2020 and 2021. In the year 2021, it reported
In April 2023, independent stock research firm, Litchfield Hills Research LLC, released its initial analysis report on UC Asset LP (OTCQB: UCASU), which rates UCASU as "Buy", and sets its target price at
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies. For more information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
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SOURCE UC Asset LP
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