Direct Communications (08337) announced its 2023 results, with revenue of approximately HK$151 million, a year-on-year decrease of about 0...
Zhitong Finance App News, Direct Telecom (08337) announced its 2023 results, with revenue of approximately HK$151 million, a year-on-year decrease of about 0.9%. The loss attributable to shareholders was approximately HK$9.935 million, a year-on-year decrease of approximately 19.3%. Basic and diluted losses per common share were HK5.37 cents.
According to the announcement, the decrease in revenue was mainly due to a decrease in revenue from distribution businesses in China and Singapore, but was offset by an increase in revenue from the provision of telecommunications services and distribution business in Hong Kong, China. The decrease in losses was mainly due to reduced administrative and operating expenses due to a reduction in operating lease expenses and a reduction in write-off of irrecoverable trade receivables.