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Ace Achieve Infocom reports 75% lower FY18 earnings of $0.9 mil on lower revenue

Michelle Zhu
Michelle Zhu12/6/2018 07:37 AM GMT+08  • 2 min read
Ace Achieve Infocom reports 75% lower FY18 earnings of $0.9 mil on lower revenue
SINGAPORE (Dec 6): Ace Achieve Infocom reported earnings of RMB4.5 million ($0.9 million) for FY18, down 75% from its FY17 earnings of RMB17.9 million due to lower revenue and margins.
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SINGAPORE (Dec 6): Ace Achieve Infocom reported earnings of RMB4.5 million ($0.9 million) for FY18, down 75% from its FY17 earnings of RMB17.9 million due to lower revenue and margins.

Revenue for the full year fell 33.2% to RMB184.8 million from RMB276.5 million previously on the back of a slowdown in the 4G business investment environment coupled with market competition.

According to the group, this resulted in “razor thin” profit margins of 3.2% in the ICT system integration segment as compared to 5.5% in FY17.

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