T&G Global has reported a full-year loss before tax of $64.2 million for the year ending Dec 31 2023, due to the impact of Cyclone Gabrielle and the complexity of its associated insurance claim.
This is a significant decrease from the loss of $3.3m in the previous year.
The company's operating loss also worsened, reaching $45.6m compared to a profit of $20.4m in the previous year.
T&G Global chair, Benedikt Mangold, acknowledged the cyclone's influence on the financial result but expressed confidence in the company's strategy.
T&G's revenue saw a slight increase to $1.33 billion, up from $1.3b.
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