Friday, February 26, 2016

Aztech reverses into losses for 4Q and full year

Aztech Group has swung into 4Q and full-year losses.

The recorded attributable losses of $12.4 million and $19.9 million in the three months and 12 months ended Dec.

This compares to earnings of $0.3 million and $5.8 million a year ago.

Revenue for 4Q fell 4.8% to $73.6 million while full-year revenue fell 3.2% to $318.9 million.

Founded as a sound card and PC manufacturer, the group has diversified into F&B, LED lighting, the supply of building materials and tugboats.

Aztech expects a challenging business environment and is cautions of its performance for the next 12 months.

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